Alberta finishes fiscal year with soaring bottom line

[Azure]

The Alberta government has come within a hair of balancing its books after predicting a $3.4 billion dollar deficit for the 2011-2012 budget year.

The deficit ended up at $23 million.

"I'm very, very pleased to be here to share some positive news," beamed Finance Minister Doug Horner at a news conference.

He attributed the turn around to higher than expected land sales, investment income and oil prices.

http://www.cbc.ca/news/canada/edmont...al-report.html

Here's to another 40 years of Conservative governments.

[Thor]

Tough balancing books in oil rich Alberta.

But anyhow, yay for AB!

[Husky]

Originally Posted by Thor

Tough balancing books in oil rich Alberta.

But anyhow, yay for AB!

It is....considering the low prov tax rate. Regardless of revenues..its hard to keep up programs when your taking a low % of the pie compared to other provinces rates.

[Senator Clay Davis]

If oil doesn't rise a little bit than next year will be much more in the red.

[Jacks]

To celebrate they'll probably find some new ways to spend money.

[Fire]

They took the interest made from the Heritage Fund (700mill) and they took money out of the Sustainability Fund, which was 15 billion in 2009, but it less than half that now. What are they going to do when they drain all the money out of these funds to pay for their over spending.

They are going to need a $97-a-barrel oil to get close to breaking even next budget.

[Slava]

The sadly true reality is that the Wildrose "budget" and electoral promises are basically pointless at this stage as well. The one budget that still holds up if oil stays where it is for this year is the Liberal budget, because they took the principled and feasible stand to move to a progressive taxation system.

I expect over the next 2 years we'll see a PST here, and frankly the sooner the better.

[Frank MetaMusil]

Originally Posted by Slava

The sadly true reality is that the Wildrose "budget" and electoral promises are basically pointless at this stage as well. The one budget that still holds up if oil stays where it is for this year is the Liberal budget, because they took the principled and feasible stand to move to a progressive taxation system.

Conservatives haven't made the necessary cuts anywhere in Alberta to make the optics look good. While I miss the Ralph bucks, I still can't help but feel guilty I spent a part of some nurses wage on golf clubs.

I expect over the next 2 years we'll see a PST here, and frankly the sooner the better.

I'd rather just pump GST back up to 7%, where the Liberals left it.

[Dion]

Originally Posted by Frank MetaMusil

Conservatives haven't made the necessary cuts anywhere in Alberta to make the optics look good. While I miss the Ralph bucks, I still can't help but feel guilty I spent a part of some nurses wage on golf clubs.

I'd rather just pump GST back up to 7%, where the Liberals left it.

There will be quite a back lash if the tax and spend Conservatives bring in a PST.

I also wonder if Redford will ever produce the documentation showing who paid back in full the money for the no meet comittee.

[Slava]

Originally Posted by Dion

There will be quite a back lash if the tax and spend Conservatives bring in a PST.

I also wonder if Redford will ever produce the documentation showing who paid back in full the money for the no meet comittee.

You know who didn't pay it back? Paul Hinman. He decided that after his electoral defeat that he shouldn't have to. With guys like him and Dave Taylor, its a fataing joke. Absolutely no integrity.

Sure, there will be a backlash, but its a necessary step for the province. You can't bring $12B and spend $40B forever. The Wildrose plan of "cutting spending" or "finding efficiencies" is woefully inadequate to address these issues as well. So, the discussion is pretty simple. Do you want these services? If so, this is the cost and here is how you'll pay for them. Suddenly a PST is just a relatively painless option.

[Fire]

Originally Posted by Slava

I expect over the next 2 years we'll see a PST here, and frankly the sooner the better.

I hope they do, so they can finally be kicked out. The Wildrose would win the next election easily. Just look how well Ontario and Quebec are doing with their high taxes and high spending. Let's join them. Woo hoo!

[First Lady]

Originally Posted by Slava

You know who didn't pay it back? Paul Hinman. He decided that after his electoral defeat that he shouldn't have to. With guys like him and Dave Taylor, its a fataing joke. Absolutely no integrity.

I'm no longer a director for the party, so the following is my statement as a personal friend of Pauls.

Member Services (of the Alberta Legislature) have confirmed that Paul doesn't owe anything for his time on this committee as he was already sitting on 3(+) committees. At 3 the add-on pay maxs out; any over 3 you don't receive any additional pay.

[Jacks]

Originally Posted by Slava

You know who didn't pay it back? Paul Hinman. He decided that after his electoral defeat that he shouldn't have to. With guys like him and Dave Taylor, its a fataing joke. Absolutely no integrity.

I assume you feel the same way about the PC's?
Redford promised that anyone who didn't pay the money back would not sit in her caucus. It's been all crickets since the election and the media has pretty much given them a pass.

[Slava]

Originally Posted by First Lady

I'm no longer a director for the party, so the following is my statement as a personal friend of Pauls.

Member Services (of the Alberta Legislature) have confirmed that Paul doesn't owe anything for his time on this committee as he was already sitting on 3(+) committees. At 3 the add-on pay maxs out; any over 3 you don't receive any additional pay.

Alright, fair enough. I take my point about him back....not Taylor though!

[Slava]

Originally Posted by Jacks

I assume you feel the same way about the PC's?
Redford promised that anyone who didn't pay the money back would not sit in her caucus. It's been all crickets since the election and the media has pretty much given them a pass.

I think if they said they were paying it back they should. To be completely forthright I wouldn't have committed to pay it back (and not being an MLA, and never being faced with the decision that's easy to say!), but if you say you'll pay it back you should.

If I were someone like Raj Sherman, who paid back about $43k, I would be livid. Why should he (and others) pay, while other MLAs said the right thing and didn't follow through. It's not a partisan issue at all, its a question of integrity and honesty.

[freedogger]

"Alberta finishes fiscal year with soaring bottom line"
Yeah good job Alberta, must have used the extra silky lube this time around. My bottom barely felt it.

[First Lady]

Originally Posted by Slava

Alright, fair enough. I take my point about him back....not Taylor though!

Taylor donated his to charity, same as Swann... actually Taylor already has.
Swann has said he will do it over his time in office.

http://blogs.edmontonjournal.com/201...mmittee-money/

[Slava]

Originally Posted by First Lady

Taylor donated his to charity, same as Swann... actually Taylor already has.
Swann has said he will do it over his time in office.

http://blogs.edmontonjournal.com/201...mmittee-money/

Well I just don't believe Taylor did. I heard him clear as day on Rutherford and he said he donates to charity because he always does and he's in a position to do so. Rutherford clarified that he didn't specifically donate because of this, and Taylor said "no".

I do give Taylor credit for coming right out and saying that he didn't think he had to give it back and didn't think he should. I personally agree with that. So why do I care? In Taylors case the myth that he donated this to charity was spun by the Alberta Party because it was what people wanted to hear. If Taylor donated the cash, I'll believe it when I see the receipts!

[shermanator]

IMO, a PST / sales tax is the only way to fairly tax all income brackets. I'm all for it, and unless it is a big purchase, the extra few percent shouldn't make a huge difference. If this is what Alberta needs to do to provide better services and infrastructure, let's get on with it already.

[Jacks]

I can see it now, they introduce a PST, raise the budgets for services by 5-10%, that gets eaten up by wages in the first union dispute. Then what?

We'll be told that if we want to keep services that we need to pay more tax.

Alberta already spends plenty, it's not as though we are scraping by.