Each Albertan is on the hook for $58,200 in government debt: Canada Day Debt Report
EDMONTON, AB: The Canadian Taxpayers Federation released its 2021 Canada Day debt report showing how much each Albertan owes in federal and provincial government debt. On average, each Albertan’s share of the federal and province debt will hit $58,200 this year.
“As the economy opens up, it’s time to get government spending under control,” said Kevin Lacey, Alberta Director with the CTF. “For too many years, politicians have been spending far too much and it’s time to rein that in because Alberta families and businesses can’t afford higher taxes.”
Debt interest charges will cost each Albertan about $1,100 this year.
“Interest charges alone will cost Alberta families thousands of dollars and that money isn’t being spent on health care or lowering taxes because it’s going to the bond fund managers on Bay Street,” said Franco Terrazzano, Federal Director with the CTF. “Canadian governments are up to their eyeballs in debt and taxpayers are going to get walloped if politicians don’t figure out ways to save money.”
The Blue Ribbon Panel on Alberta’s finances found that the Alberta government would spend $10 billion less every year if its per-person spending were brought in line with costs in other large provinces.
The CTF has proposed cutting the size of government by limiting wages and benefits of government bureaucrats, ending corporate welfare and reducing spending in each government department.