Tuesday, September 16th24.1°C
23373
22916

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

22970


Recent Trending




Today's Market
S&P TSX15510.54+27.98
S&P CDNX975.70-5.80
DJIA17131.97100.83
Nasdaq4552.759+33.856
S&P 5001998.98+14.85
CDN Dollar0.9109-0.0006
Gold1236.70-0.20
Oil94.66-0.22
Lumber349.00+1.00
Natural Gas4.045-0.018

 
Okanagan Companies
Pacific Safety0.175-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.01
Cantex0.06-0.01
Anavex Life Sciences0.250.00
Metalex Ventures0.06-0.005
Russel Metals35.95-0.22
Copper Mountain Mining2.69-0.01
Colorado Resources0.16+0.005
ReliaBrand Inc0.027+0.003
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.30+0.035

 



22689

FEATURED Property
16257601562 Granite Road
10063515 bedrooms
$729,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...


Price Guarantees

Article written by Linda Bustos Though I’d never recommend “lowest prices” as a unique selling proposition, I notice many retailers use a Price Match Guarantee or even a 110% Guara...


Brangelina and Celebrity vs Philanthropy

This week my wife wrote a blog for our charities website, I thought you may enjoy reading it here: I was planning to write about the incredible philanthropic Miss Angelina when, funnily enough, she ...

_



23109




Member of BC Press Council


22962