Deficit Numbers Still Don’t Add Up: Anderson
EDMONTON, AB (August 17, 2011): Today’s fiscal update is nothing more than a political stunt by a desperate government wanting to pad their budget numbers with wishful thinking and pipe dream projections, Wildrose Finance Critic Rob Anderson said today.
“This is little more than a vain attempt to salvage the legacy of a government that has destroyed Alberta’s balance sheet and shredded our reputation as leaders in fiscal responsibility,” Anderson said.
“The fact is oil prices have recovered and land sales are soaring and these guys are still running a massive deficit,” said Anderson, who noted the government’s deficit number still doesn’t take into account the additional $2.9 billion in capital expenses that are part of the true cash shortfall. “Only the Alberta Progressive Conservatives would consider running a $4 billion cash deficit while raking in near-record revenues as a point of pride.”
Gary Mar supporter and Finance Minister Lloyd Snelgrove even went so far as to predict a balanced budget for the next fiscal year despite widespread predictions of an impending economic downturn.
The government’s updated average oil price projection is up to $97.85, while some sources are projecting oil to bottom out at $60 a barrel by the end of the fiscal year. Even if oil averaged today’s price of $87.50 the deficit would still grow by $1.4 billion by the end of the year.
“These guys are using phony numbers to try and boost their fortunes before they pick a new leader and take us to a fall election,” Anderson said. “They know that by the time these numbers are exposed, the election will already be over.”
The Wildrose Caucus stands for free enterprise, less government, increased personal freedom and democracy.
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For further information or to arrange an interview, media are invited to contact:
Brock Harrison
Director of Communications, Wildrose Caucus
Ph: 780-399-2890