Fraser Institute is confirming what a lot of Albertans already knew, the province squandered much of the windfall it received from high energy revenues in the last decade.A new report by the conservative
The report, which was released Tuesday, goes right to the bottom line in the title: Alberta's $22-billion Lost Opportunity. It concludes the government's failure to keep spending at the rate of inflation plus population growth from fiscal 2005 through the current fiscal year put the Alberta on course for the massive deficit it must tackle in next month's budget.
"A review of actual choices governments made shows a pattern of increased program spending well above the rate of inflation and population growth and as a result, a string of five consecutive deficits," says a synopsis of the report, authored by Mark Milke.
"In total, if Alberta’s governments had held program spending increases to the rate of inflation plus population growth since 2005, the province would have spent $22.1Read More »from Fraser Institute slams Alberta government for squandering $22 billion windfall