Forum

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Mortgage Broker News | 25 Feb 2015, 06:40 AM Agree 0
Alberta was expected to make a surplus but economic conditions cast doubt on the ability of finance minister Robin Campbell being able to end the fiscal year on a high.
  • Hal Tagg | 25 Feb 2015, 11:53 AM Agree 0
    There are two problems with the AB government press release.

    One, it implies that the surplus is for this year (2015). In fact, it is for the fiscal year ending March 31st. Most of that time, or at least half, they had high oil prices.

    Two, and this is the big lie, the province changed their accounting methods to hide much of what is normally considered deficit spending. For example, all of their infrastructure costs like schools, hospitals, and roads they no longer count in their budget when determining a deficit. So really, they are running about 4 billion dollar deficit. And, that is before worrying about the 7 billion dollar hole the plunging oil prices are about to put into the budget.

    The province is being disgraceful and dishonest when they say they have a surplus, when they really have a large deficit. Saying you have a surplus while going further in debt is dishonest.

    What they have done with the finances would not be allowed with any publicly traded company. It is embarrassing the way they try to hide their deficit.
Post a reply