Alberta Liberals concerned about Government’s third quarter fiscal update numbers

Alberta Liberal Leader David Khan and MLA David Swann respond to the Government’s third quarter fiscal update.

Khan stated, “The Alberta economy is not rebounding. It is just staying afloat. We are extremely concerned because Albertans are barely holding their heads above water. We are not better off today than we were a year ago. 2019 is shaping up to be gloomy based on the NDP Government’s own economic forecasts. Alberta Liberals suggest some new economic strategies to put Albertans back to work and get this economy going.

“The NDP Government is estimating a meager 1.6% in economic growth (GDP) for 2019. The original GDP forecast was for 2.5% based on the NDP Government’s Budget. We are clearly heading in the wrong direction. The Conference Board of Canada forecasts an even worse number of 1.3% growth.

“Our biggest concerns are for jobs. The Conference Board of Canada projects a 1.1% boost in jobs for 2019 after almost flatlining in 2018. Most are part time minimum wage jobs. Albertans are barely able to pay their bills working at minimum wage jobs.

“Alberta Liberals believe we can do better. Our strategy focuses on job creation by attracting investment for new industries and creating a pro-investment business climate. We also want to build Alberta’s world-class workforce by improving skills training and re-education. There is no silver bullet solution to Alberta’s economic slump. But these are steps that will help get us on track for a more sustained recovery.”

Swann stated, “Alberta’s growing debt continues to hamper the economy. A $600 million projected deficit reduction in this update is a drop in the bucket. Alberta’s total debt numbers are still projected to reach $96 billion by 2023-24. We cannot continue to spend as if oil was at $100 a barrel. We cannot burden ourselves and future generations with massive debt.”

Khan added, “Albertans continue to face tough times. We need to put more Albertans back to work and to boost our economy. We can get through this together.”