August 26, 2009

Down a Red End: Stelmach Fiscal Management

Wildrose Alliance Party
NEWS RELEASE

It was only one year ago when Premier Stelmach proclaimed proudly that Alberta would boast an $8.5 Billion dollar surplus. Today he is predicting an adjustment of $15.5 billion with his announcement that Alberta will run a deficit of $7 billion on top of the Health Super Board’s deficit of $1.1 billion. Of note, spending continues to rise. This amounts to overspending in the amount of $3100 for every Alberta taxpayer.

Wildrose Allia Paul Hinman notes that the figure is about exactly the same as the amount the Provincial government expects to reap in personal income tax revenues – up 50 per cent from when the Premier and his Finance Minister announced their $4.7 Billion dollar deficit budget just three months ago. “At this rate,” Hinman says, “The Stelmach government’s deficit could easily exceed $10 billion, and yet they have done little to curtail their spending and to act like the conservatives they claim to be.

They are demonstrating their Progressive roots: progressively spending out of control!”"Premier Stelmach has been wrong with every economic prediction, his plans have been failures, and his policies continue to undermine health care and education,” Hinman says. “He has lost all credibility and is only reactive, not proactive.” Hinman also points out that while the budget bleeds red, the Stelmach PC’s continue to enjoy their pay raises. “Why should Albertans believe him now or in the future?,” he says. “We need to Send Ed a Message!”

By the time Stelmach is run out of office, there will be no sustainability fund, Hinman predicts. “But there will be a Provincial debt, much higher unemployment than we see now – and which is already five times higher than they predicted just three months ago,” he says.

“Not only that, but the impacts on Alberta’s economic strength and government revenues of a severely downsized oil and gas industry and significant reductions in property values across the province will lead to lower service provisions for health care, education, and policing.

The sad part,” Hinman says, “Is this government accepts no responsibility for their role in this economic boondoggle.”

Hinman notes that Alberta’s neighbouring provinces are taking steps to address the global economic climate affecting them to great effect. They have maintained taxation stability or lowered taxes, demonstrated budgetary discipline, encouraged and attracted capital investment, and “Made the tough choices when they had to. The Wildrose Alliance proposes policies that achieve all of these goals, but the Stelmach government wants to maintain the status quo on spending and hope they win the next lottery.

That is not what built the Alberta Advantage.”The Wildrose Alliance is a fiscally conservative and socially responsible party that stands for economic growth and fiscal discipline while ensuring that Albertans get the services and support they need. The Party has experienced a surge in membership this year as the Stelmach PC’s continue to implode and threaten to take the province with them.

Wildrose Alliance Interim Leader Paul Hinman is currently running in the Calgary Glenmore by election. At the same time, the party is having a Leadership race that will culminate on October 17 in Edmonton.

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