Alberta budget 2009

[LChoy]

Haven't had time to look at it yet, but here it is

Budget highlights:

• $23.2 billion over three years to build health facilities, schools, and roads - includes funding for carbon capture and storage, and GreenTRIP.
• 3.7-per-cent increase in operating spending to address population growth and inflation.
• Priority areas of health, education, advanced education, seniors and children services account for 75 per cent of the operating increase.
• Taxes remain lowest in Canada; tobacco tax increases and liquor markup is raised.
• Forecast $36.4 billion in spending in 2009-10; $31.7 billion in revenue.
• $4.7 billion deficit forecast for 2009-10; surplus forecast in 2012-13.
• $2 billion in fiscal corrective actions to be taken in 2010 if situation does not improve beyond forecast.
• New fiscal framework allows for transfers from Sustainability Fund to offset deficits.
• $4.7 Billion Deficit

http://alberta.ca/acn/200904/2566682130AB8-0A89-15BD-C8BD5275D7430706.html

[Frequitude]

Tapping into our reserve funds to pay the deficit will piss me off. If this fund is well managed, its rate of return should exceed the cost of debt.

[Poison]

Booze and smokes are going up again?
Im building my protest sign as we speak.....

[Frequitude]

At least its based on a conservative oil price of $55.50/bbl.

I'm much more familiar with oil markets, but $5.50/GJ sure doesn't seem that conservative though....

[You Need a Thneed]

Originally Posted by Frequitude

Tapping into our reserve funds to pay the deficit will piss me off. If this fund is well managed, its rate of return should exceed the cost of debt.

The article I read says that they are doing some borrowing too.

[albertGQ]

I thought there were rumours of a tax cut? Doesn't look like it

[Julio]

Originally Posted by You Need a Thneed

The article I read says that they are doing some borrowing too.

Ya...doing some bonds...I wish that they would be of the 'Alberta Savings Bond' retail variety, but I'm sure they will be 'corportate' bonds the ordinary Albertan will not be able to acquire.

[Julio]

Originally Posted by albertGQ

I thought there were rumours of a tax cut? Doesn't look like it

We got our tax cut @ the start of the year (well at least for some of us) when they killed health care premiums.

[Azure]

So they up tobacco and liquor taxes and they still can't balance the budget?

Instead of 'projecting' a possible surplus 3-4 years down the road, why not cut $4.7 billion in funding until the price of oil goes back up again, and then increase spending a bit more?

[RougeUnderoos]

Originally Posted by Azure

So they up tobacco and liquor taxes and they still can't balance the budget?

Instead of 'projecting' a possible surplus 3-4 years down the road, why not cut $4.7 billion in funding until the price of oil goes back up again, and then increase spending a bit more?

These guys couldn't organize a drunk in a brewery and I'm not one to defend anything they do, but you can't just "cut" 5 billion dollars out of the budget overnight.

[Azure]

Originally Posted by RougeUnderoos

These guys couldn't organize a drunk in a brewery and I'm not one to defend anything they do, but you can't just "cut" 5 billion dollars out of the budget overnight.

They've been planning the budget for a while now.

They can cut whatever the hell they want.

[RougeUnderoos]

So you got any suggestions?

This is Alberta, and we are spoiled with 24 hour wait times at the hospital and a middle-of-the-road education system. Maybe health and education should be the first to feel the heat.

I did catch on the news that "chiropractic services" to the tune of 53 million bucks are on the chopping block, and a few other little things, but nothing anywhere near 1/7th of the budget.

[Jedi Ninja]

I know this will be unpopular, but I would defer most of the capital projects for at least a year. Costs are still too high, and I don't think that segment of the construction industry has really been hit all that hard yet. A lot of that industry is still heavily staffed by temporary foreign workers, for crying out loud.

I had some other thoughts, but first I need to run to the store and stock up on booze.

[Azure]

Originally Posted by RougeUnderoos

So you got any suggestions?

This is Alberta, and we are spoiled with 24 hour wait times at the hospital and a middle-of-the-road education system. Maybe health and education should be the first to feel the heat.

I did catch on the news that "chiropractic services" to the tune of 53 million bucks are on the chopping block, and a few other little things, but nothing anywhere near 1/7th of the budget.

Obviously it wouldn't be easy to decide what to ax, but thats why they've got the job and I don't.

Capital spending could be a reduced a bit. Even if you don't balance the budget completely, a billion or two is better than nothing.

I could nitpick on things like teachers salaries, which could be frozen for a year, and then increased a bit more than what was planned this year....as well as a few other things.

But, that might only equal a few million.

Maybe its time to cut taxes, and let the economy generate more revenue?

[albertGQ]

So how much would a six pack of Canadian cost nowadays?

[SebC]

Originally Posted by Azure

So they up tobacco and liquor taxes and they still can't balance the budget?

Instead of 'projecting' a possible surplus 3-4 years down the road, why not cut $4.7 billion in funding until the price of oil goes back up again, and then increase spending a bit more?

So... no Keynesian economics for you, eh? Government spending should be doing the opposite of consumer spending. That's why you need to run big surpluses when things are going well.

[Bill Bumface]

We must officially have the most expensive beer in the world. The humanity!!!

[Slava]

Originally Posted by SebC

So... no Keynesian economics for you, eh? Government spending should be doing the opposite of consumer spending. That's why you need to run big surpluses when things are going well.

Right the government shouldn't be spending, but somehow he implies that cutting taxes will somehow balance the budget.

[Bend it like Bourgeois]

Brutal. But they planted this seed over the last 5 years of insance spending hikes. Short of grinding the government to a halt we're stuck with it now.

The projected surplus is laughable. Short of a fluke here and there I don't think we'll see another surplus again in my lifetime. No way that genie gets put back in the bottle.

[First Lady]

Ed Stelmach, February 23rd, 2008

“A Progressive Conservative government will never put Alberta back into a deficit position,” said Stelmach. “We have a plan that provides the services and infrastructure to Albertans, while keeping more money in the pockets of Albertans. Our plan is realistic and achievable. It works for Albertans.”

So I invite you....

Meetings, meetings and more meetings....

April 9, 2009 we have a public Town Hall meeting planned in Calgary. It will be at 7:00 PM at the Blackfoot Inn (5940 Blackfoot Trail). Come out to meet our leader Paul Hinman and other members of the executive. Feel free to bring a friend or even pass this along to others. Listen for our advertising on both 660 News and QR77 this week.

On April 14th we are hosting an event at the Calgary Petroleum Club which is nearly filled. If you would like more information on attending this, send me an email.

Since our last meeting in Edmonton was successful we will be there again on April 22nd at the Four Points Sheraton (7230 Argyll Rd.)
Continued: http://executivedirectorsdesk.blogsp...-meetings.html

Lethbridge,
Medicine Hat,
Red Deer,
Grande Prairie

Vent your frustration or listen to mine.