What is Happening?
Alberta has historically had very low debt. This meant that the province was not paying debt servicing costs which freed resources to be spent on valuable programs and services. Since 2014, these costs have begun to grow rapidly.
How Does This Affect Me?
Borrowing becomes more addictive the more it is used. With more borrowing comes more debt servicing costs. This means that if the Government continues to borrow at the current rate, there will be increasingly less funding available for important services Albertans rely on.
The Better Way?
The Alberta Party Caucus would only borrow to finance needed capital projects. By only takin on “smart debt” the amount of borrowing the province would rely on would decrease. As well, the Alberta Party Caucus would work with credit rating agencies to improve Alberta’s credit rating back to AAA. These combined efforts would lower the cost and reliance of provincial debt.
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