“No one is surprised by today’s announcement by Moody’s that Alberta’s AAA credit rating has been downgraded. In the Fall, Wildrose repeatedly warned the government that overspending and no controls on borrowing would lead to credit downgrades.
“Large, permanent deficits cause ballooning interest payments which means less money for hospitals, schools, teachers and nurses. It also means further tax increases on Albertans at a time when they simply can’t afford it.
“Minister Ceci did have a choice this budget. He could have put Alberta on a sustainable path back to balanced budgets. Instead his NDP government put together a fiscal plan that puts Alberta’s future at risk.
“Until the NDP government presents a credible plan to get expenses in line with revenues, Albertans should expect to see these downgrades continue.”