As Alberta faces a record deficit in advance of its upcoming budget, we are joined by two of Alberta’s top economists, Trevor Tombe, Associate Professor of Economics at the University of Calgary and Mike Holden, Chief Economist at BCA to dive deep into Alberta’s revenue model, how COVID spending has impacted our long-term fiscal picture; what options are available to us to deal with our deficits; and what questions Albertans need to be asking as we plan a pathway to fiscal sustainability and stability.
In This Episode:
- Alberta’s current fiscal situation—how we got to a $24.2 billion deficit
- Long-term implications of government spending
- Viability of public spending cuts or changes to bring balance to public finances
- Alberta’s current revenue picture—resource royalties, taxes, levies, etc.
- Implications of a provincial sales tax for Alberta
- Implications of running deficits for a long period of time