Peace River MLA, Dan Williams feels the province is ahead of schedule in trying to balance the budget.
Finance Minister, Travis Toews unveiled the government’s financial blueprint for the 2020-21 fiscal year, which forecasts
Williams points out that the 2019-20 budget came in at a deficit of $7.5 billion, after originally forecasting $8.7 billion of red ink last year (see p. 8 of budget document for key metrics).
“We have found an extra $1.2 billion that is not going towards debt,” says Williams.
“Therefore, we are saving approximately $35 million in interest payments to bond holders and bankers. That’s $35 million in tax dollars we collect from our citizens going towards: paying down debt, making sure we have hospitals open, schools running and roads being built.”
Williams also stresses that the United Conservative Party’s goal of cutting operational expenses by 2.8 percent is over its term in government, not year-to-year.
According to budget documents, the government says it will hold – or slightly increase – spending in healthcare and education (see p.122 of budget document below for detailed breakdown of spending).
Williams adds that he hopes other levels of government will show the same restraint in spending.
“I will look to our federal level first, to Mr. Trudeau to say that the debt he is burdening our future children, and grandchildren with will end up being debilitating,” states Williams.
“The more we go into debt at the provincial and federal levels, the more susceptible we are to rising interest rates, to economic ups and downs in the global market.”
Williams says he understands the struggles municipalities are facing as well.
“There are many, many difficulties in operating municipalities,” explains Williams.
“However, we all have to share in the difficulties of a slowed economy and the difficulties we were laden with, with record levels of debt at the provincial level so I am looking to cooperate with my colleagues at the municipal level to find ways to serve our constituents better.”
Click here to have a look at the full budget document.
– Kenny Trenton, Trending 55 Newsroom
