Will be interesting to see what the bond market says about this.
Spending down rainy day fund completely, and additionally borrowing for operations as well as capital. This is basically the equivalent of a person taking on debt to fund their day-to-day living expenses, which they adamantly refuse to lower. I for one, as an investment manager, won't touch an AB bond because....well because NDP. Who knows what the hell AB's fiscal situation will be in 5 years.
This will likely drive up yields, and cost taxpayers even more.
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