NDP Debt Up 638%, Total Debt Projected to Hit $96B, $3.7B in Annual Debt Payments. And a hidden 67% increase to the Trudeau-NDP carbon tax!
EDMONTON, AB – (Thursday), the NDP handed down another ‘virtual reality’ budget, drowning Albertans in a sea of red ink and imposing numerous increased costs for Albertans.
“Hidden from Albertans in this budget is a 67% hike to the Trudeau-NDP carbon tax, just like it was hidden from Albertans in the last election. With their rose-coloured glasses, the NDP continues to demonstrate that they are deeply out of touch with the concerns and priorities of everyday Albertans who continue to manage their finances a heck of a lot better than this NDP finance minister,” said United Conservative Leader Jason Kenney.
“In their 2015 campaign platform, the NDP promised a $25 million surplus by this year. Instead, Albertans get an NDP deficit of $8.8 billion. We are drowning in a sea of red ink. By 2023-34, the year the NDP is promising a return to balance, Alberta will have $96 billion in total debt. The NDP will have increased Alberta’s debt by a massive 638% versus what they inherited,” added Kenney.
By 2023, Alberta is projected to be spending $3.7 billion annually on interest payments to bondholders and foreign bankers. This number is over half of what the Alberta government currently spends every year on the province’s universities and colleges.
“Since taking office, the NDP increased spending by 16%. And by the time they claim to have balanced the budget, overall government spending will have increased by 35%. Only the NDP could think this is ‘restraint,’’ added United Conservative Finance Critic, Drew Barnes
“This so-called ‘balanced budget’ plan is based on unrealistic revenue growth of 38% between now and 2023, including an increase of $8.8 billion in tax revenue and $6.6 billion in additional royalties. While the Minister appears lost in his own virtual reality, the fact is that the NDP is hurling our province over the fiscal cliff,” concluded Barnes.