EDMONTON, AB: (Last week’s) Third Quarter Fiscal Update again shows the NDP collecting less money than anticipated, despite tax hikes on income (-$322m) and job-creators (-$66m) as the NDP continues to deter economic activity. The Update notes that total real business investment is forecast to edge down 1.9 per cent this year, hardly indicative of the NDP’s supposed ‘recovery.’ Meanwhile, new Statistics Canada data shows projected investment in oil and gas in Alberta this year is down by $35 billion versus 2014 – a staggering 61 per cent drop. At the same time, oil and gas investment has risen in Saskatchewan, while Texas and North Dakota are also experiencing a boom.
“It’s astounding to see just how out of touch the NDP is with everyday Albertans. While the Finance Minister acts triumphant, Albertans are not sharing the NDP’s enthusiasm,” said United Conservative Leader Jason Kenney. “Everywhere I go, I hear from Albertans whose household incomes have plummeted since the NDP came to power. With their numerous tax hikes and increased red tape, the NDP has made day-to-day living more difficult in our province while at the same time driving away much-needed job-creating investment.”
“The NDP was repeatedly warned that its tax hikes would have the opposite of the intended effect by driving economic activity out of Alberta. Today’s fiscal update once again confirms this, with the government collecting hundreds of millions of dollars less than planned. At a time when competitiveness is increasingly important, the NDP has told the world that it’s better to do business elsewhere, and Albertans continue to suffer as a result of the these misguided policies,” said Kenney.
“While the NDP tries to talk about spending restraint, today’s Fiscal Update shows that spending has actually increased by over a billion dollars from Budget 2017. The NDP planned to find $200 million in savings. Instead, they spent an additional $173 million on operations. In fact, in its first two years in office, the NDP increased spending by 11 per cent, leaving a mountain of debt for our children and grandchildren,” said United Conservative Finance Critic Drew Barnes. “The biggest beneficiaries of the NDP’s policies are not the people of Alberta, but bankers and foreign bond holders who are now collecting billions of Alberta taxpayers’ dollars in the form of interest payments – money that should instead be going towards funding essential programs and services like health care and education.”