Serving Woodbine, Woodlands, Evergreen, & Bridlewood
R: I salute WWII veteran Kathleen Channon; what a privilege it was to commemorate Remembrance Day with our seniors in Evergreen!
PLEASE JOIN US FOR OUR ANNUAL CHRISTMAS OPEN HOUSE:
December 4th from 4 – 6 pm at our Calgary-Lougheed Office!
- The new government’s deficit for this year is projected to be $6.1 billion: a full $1 billion higher than the PC budget proposed last March. Spending is being increased by $1.6 billion over the budget proposed by the PC’s, & there is no effort to limit administrative expenses or find efficiencies--unlike the PC’s. It gets worse: deficits of $5.4, $4.4, & $2.1 billion are projected for the next three years; & this is based on an extremely optimistic price of oil. By March 2020, the total accumulated debt is projected to reach $47.4 billion! Is that the Alberta way?
- The Contingency Account—which took years for the PC’s to build--stood at $6.5 billion on March 31. It had an additional $1.7 billion added in June (from better-than-expected 4th quarter before the election), which means it was almost $8.3 billion…just a few months ago. Unbelievably, by March 31, 2017, the balance will be zero; & there will be no replenishment of the fund for the duration of this government's term of office. Again, the news gets worse. With the Contingency Account depleted, the gov’t will begin borrowing to fund day-to-day operations in 2017: this has not happened in Alberta since 1993, & it is like taking out a loan to pay for the groceries. The new borrowing will cost Albertans billions of dollars in the next few years!
- As if that weren’t enough, the gov’t does not plan on investing in the PC government’s iconic Alberta Heritage Fund, beyond the legally required "inflation-proofing”. While businesses & families tighten their belts, the new gov’t has no plans to reduce any costs in the public service!
- Personal Income Taxes for salaries over $125,000 are increasing from 10 – 12%, & to 15% for $300,000. Additionally, business income taxes are increasing from 10% to 12%. There are tax increases on insurance premiums, locomotive fuel, & more. This has many citizens asking the question: “what is happening to the Alberta Advantage?”.