For Immediate Release 

This title is a variant of the famous bumper sticker of the 1980’s that asked for one more boom so we wouldn’t screw it up again.  It appears that our Stelmach PC’s have.  This time, Albertans do have a choice and that is the Wildrose Alliance!

 A have not Province is what Alberta now is.  Our Finance Minister has gone cap in hand to the Federal government begging for “$220 million more, sir”.  This is an embarrassment for a Province with the gusher of resource wealth that has been frittered away with wasteful spending on items such as new logos, studies on license plates, and secret MLA pay raises. 

 If spending had been kept in check at the rate of population growth and inflation the Province would have a multi-billion surplus allowing the Province to capitalize on lower costs at low points in the economic cycle rather than spending the most at high points. 

 Economic sensitivities for the Province are in the extreme and show the Stelmach PC’s for what they are: kids with a credit card they don’t think they ever have to pay off.  Their projected deficit for the current fiscal year left them with a slight operating surplus but a significant deficit when factoring in capital projects such as roads, schools, and hospitals.  With the poor economic environment, and factoring in current energy prices of $67/bbl for oil, $3.30/mcf for gas, and a $.91 C$, this works out to a budget deficit of $7.3 billion.  Given that the Stelmach PC’s were figuring it would be $4.7 billion, this is cause for concern!  With gas inventories expect to reach record levels in November this year, it does not appear that gas prices will come to save the day. 

 It is also important to note that while oil and gas prices were hitting new highs in 2008, economic growth was falling off sharply in Alberta.  Thus, the global economic collapse happened after the decline was well under way and can only be attributed to government policy.  This has led to the loss of 51,000 jobs since December in Alberta and the highest level of unemployment in 7 years.

 Paul Hinman said, “Today we see the government admitting they bungled their budgeting and are leading us into debt.  The former sustainability fund they used to crow about will be burned up in one year.  If they keep this up, the Heritage Fund will be gone in the next couple years.  This government needs to be sent a message that Albertas don’t want a big spending government!” 

 The Wildrose Alliance believes Alberta has all the resources to put Albertans to work.  It simply is a matter of reinstating the Alberta Advantage of low taxes, stable contracts, innovative thinking and entrepreneurial sprit.  On that note, the Wildrose Alliance would support capital cost allowances for the construction of upgraders and refineries, the matching grant to the City of Calgary for the airport tunnel, and the restoration of the former Royalty Framework and Royalty Tax Credit for small producers.  These simple measures will get business investing in Alberta and Albertans working good jobs.