Details needed on 6 Billion in Borrowing


Calgary, June 9th: Alberta Liberal Leader David Swann says the Minister of Finance has a duty to immediately provide details on the $6 Billion in borrowing the government authorized by order-in-council.

“There is no information on what this borrowing is for; presumably it is for capital projects but we don’t know which projects or how they are being prioritized,” says Swann. “The NDP also has yet to provide a debt repayment plan so Albertans know how this will be paid off.”

Albertans learned about this latest borrowing via a general order-in-council news release, which Swann describes as problematic.

“Last month the government took the laudable step of calling the legislature into session in order to authorize interim supply for the government,” says Swann. “Part of their explanation for the lack of detail in their interim supply bill was its similarity to the previous government’s plan. But now we have a $3 billion difference in the amount that is being borrowed.

“There are too many questions here for the Finance Minister to not provide a full explanation—something he should have done when the legislature was in session.”