Wednesday, January 28th-3.2°C
24736
24105

Money matters: Alberta government passes $43-billion budget for 2014-15

EDMONTON - The Alberta government has officially approved its $43-billion budget for 2014-15.

The document completed third reading Wednesday night and the governing Tories used their majority to pass it 33-20.

The budget forecasts a $1.1-billion surplus in day-to-day spending, but infrastructure debt is pegged to hit $21 billion by 2017.

The Opposition Wildrose has criticized Finance Minister Doug Horner for plunging Alberta back into the red less than a decade after former premier Ralph Klein paid off the province's $23-billion debt.

Horner has said borrowing for building is prudent because interest rates are low and tens of thousands of newcomers are arriving in Alberta each year.

Critics have also said the budget is presented in a confusing format to hide the deficit and on Wednesday auditor general Merwan Saher said it doesn't meet general accounting standards.

Horner defended the approach Thursday. He said splitting the budget into savings, capital spending and day-to-day spending is the best way to make sure Albertans understand how money is allocated.

"If you look at municipalities, they do it exactly the same way. They separate out their operating from their capital," said Horner.

"Why would we deprive Albertans of having the same level of scrutiny on our numbers as we require of the municipalities?"

The Wildrose party has suggested the government could manage spending on infrastructure projects with better planning and priorities.

The NDP has said it accepts the idea of borrowing to build, but agrees with the Tories that it would be unacceptable to go into debt for day-to-day spending.

The Canadian Press


Read more Business News

24497


Recent Trending




Today's Market
S&P TSX14833.88+36.05
S&P CDNX676.77+2.38
DJIA17387.21-291.49
Nasdaq4681.498-90.266
S&P 5002029.55-27.54
CDN Dollar0.8039-0.0031
Gold1288.80+9.40
Oil47.32-0.63
Lumber312.50+0.80
Natural Gas2.907-0.074

 
Okanagan Companies
Pacific Safety0.12-0.02
Knighthawk0.010.00
QHR Technologies Inc1.43+0.04
Cantex0.0350.00
Anavex Life Sciences0.180.00
Metalex Ventures0.035-0.005
Russel Metals24.33-0.12
Copper Mountain Mining1.05-0.04
Colorado Resources0.155+0.02
ReliaBrand Inc0.0069+0.0009
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.21-0.03

 



24667

FEATURED Property
1997043142/144 Brookfield Road
8 bedrooms 6 baths
$698,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...


What do I pay ICBC for anyway?

If you have had ongoing dealings with ICBC as a result of a car accident than you have likely had the pleasure of dealing with at least two sides of ICBC. Initially the relationship starts off pleasan...

_








Member of BC Press Council


24975