Tuesday, April 1

Budget

22Mar By Bob AscahNo Comments
Budget, Government Finances

An Alberta Sales Tax?Really!

The presentation below from my presentation on 20 March 2019 to the Gyro Club of Edmonton. The presentation summarizes many of the arguments in a book I am editing which hopefully will be available this summer. The PowerPoint presentation and speaking notes examine the problem of the provincial government's fiscal dependence on non-renewable resource revenue and economic dominance of the energy sector. The presentation also highlights difficulties which started in the early 1980s when the provincial government decided to take a short-term view and suspend payments of resource revenue into the Heritage Fund. At this time, all investment income accruing to the Fund went to government program spending. The words "sales tax" will not be uttered voluntarily by the two main political lead...
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28Feb By Bob AscahNo Comments
Budget

Third Quarter Fiscal Update

Originally posted 28 February 2019 Highlights Deficit falls as bitumen royalties strengthenSpending remains on trackInvestment income drops somewhatATB projected profit falls by 35 per centFinancing requirements grow for pre-borrowing Buzz that inclusion of “Path to Balance” means no budgetEconomic growth expected to weaken in 2019 Context This Update is the final update before the provincial election is called. In the Press Conference accompanying the release, the Finance Minister was pressed on whether there "would be a budget." He admitted that decision rested with the Premier but there would be a 2019 budget. In an unusual departure from normal updates, the 17-page insert could be construed as a mini-budget. Source: CBC.ca (more…)
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Budget 2018 Choice of words
26Mar By albertarecessionwatchNo Comments
Budget

Budget 2018 Choice of words

Originally posted 26 March 2018 In a very unscientific reading of the budget the following words or phrases were repeated: (more…)
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Budget 2018- Voices under the Dome
23Mar By albertarecessionwatchNo Comments
Budget

Budget 2018- Voices under the Dome

Originally posted 23 March 2018 Updated 26 March 2018 After the Finance Minister rises to give the budget address, media outlets and political parties gather around their cameras and party banners to give their reaction to the budget.  Under the Rotunda Dome and around the fountain around the large fountain there is a buzz of excitement as the bows and arrows are drawn in this political blood sport. [wpvideo ts69nagH] (more…)
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2Mar By albertarecessionwatchNo Comments
Budget, Fiscal History, Opinion/Research

And then there were none: Pros and Cons of a Sales Tax

 Originally posted 2 March 2018 Economics Society of Northern Alberta hosts debate on sales tax All MLAs invited -but all missing in action Key obstacle is public's perception that governments will just waste the money Will a crisis tilt Alberta to new massive cuts or a sales tax? Are Alberta public sector workers overpaid?  Relative to whom? (more…)
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Third Quarter Fiscal Update
2Mar By albertarecessionwatchNo Comments
Budget

Third Quarter Fiscal Update

Originally published 2 March 2018 Finance Minister Joe Ceci's fiscal update issued on 28 February was more upbeat than previous reports. The headline number was a $1.4 billion reduction in the provincial deficit forecast for the fiscal year ending 31 March 2018.  For critics, the government kept the spending floodgates open; for partisans the economy was growing strongly courtesy of the sound steerage of the NDP government. Below we examine some of the details. (more…)
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The MacKinnon-Mintz Fiscal Prescription
13Dec By albertarecessionwatchNo Comments
Budget

The MacKinnon-Mintz Fiscal Prescription

Originally posted 13 December 2017 In late October, the School of Public Policy at the University of Calgary published a research paper co-authored by Janice MacKinnon and Jack Mintz.  [AB-Budget-New-Trajectory-MacKinnon-Mintz-final]  Janice MacKinnon is a professor of public policy and former NDP Minister of Finance of Saskatchewan.  Mintz is the President's Professor of Public Policy at UofC and former Director of the School of Public Policy. Both writers have formidable reputations as commentators on public policy and also as academics who have worked at the highest bureaucratic and political levels in the formulation of budgetary and taxation policies. (more…)
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Budget 2017- Opinion
18Mar By albertarecessionwatchNo Comments
Budget

Budget 2017- Opinion

Overview Joe Ceci's 2017 budget could be characterized as a "steady as she goes" budget. The citizens of Alberta will be paying for this budget, and many previous budgets, with higher taxes and higher debt service costs for years, if not decades, to come. There are many observers who feel the budget was "ok" since programs and capital spending are not disturbed. There are also many Albertans who do not believe using the credit card to support spending is the right way forward. One half of Mr. Ceci's address spoke of the capital spending and repair and maintenance undertaken by the Government. Virtually no corner of the province escaped mention: a courthouse for Red Deer a new hospital for South Edmonton Highway construction for Fort Saskatchewan Deerfoot Trail in Calgary an...
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Third Quarter Fiscal Update
23Feb By albertarecessionwatchNo Comments
Budget

Third Quarter Fiscal Update

Green shoots- still clouds on horizon Treasury Board President and Finance Minister, Joe Ceci released the Government of Alberta's Third Quarter Fiscal Update and Economic Statement on Thursday 23 February 2017. Overall the fiscal picture has not changed very much over the past three months. The 2017-18 budget is expected to be in March and will likely reflect some tweaks to the fiscal 2017 numbers published today. There is definitely some more optimism in Alberta today as oil prices have stabilized, pipeline approvals announced, and Fort McMurray rebuilds. Possibly the worst is behind the economy but there is little reason to be complacent. Today Mr. Ceci announced the passage of an Order in Council authorizing the borrowing of up to $14 billion. He immediately cautioned that this appro...
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