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Tuesday, October 07, 2008

psst... alberta, your fiscal imbalance is showing...

- Alberta's provincial government surplus expected to hit $12 billion.

- Rising fuel costs, higher wages and the growing international financial meltdown mean City of Edmonton residents will face a proposed 10.7% tax increase in 2009.


Anonymous said...

Psst . . . Dave, the story about the provincial surplus is from June, when oil was about $50 higher than it is now, not to mention natural gas prices were looking better. And consider who made the projection - CIBC. Jeff Rubin and his $200 a barrel aren't looking so good right now.

Let's also not forget $2 billion of that surplus is going directly to municipalities for transit projects. Also, government policy directs a portion of the surplus to capital, which likely includes some municipal infrastructure.

Anonymous said...

your "$12 billion surplus" post references an article from June 12.

It is now October. Take a look at the direction of the price of oil and the price of natural gas since then, and re-evaluate. [I would hazard a guess that in June, you were likely accusing the PCs of lowballing the budget commodity price assumptions, but I am too lazy to dig]. Hint: natural gas accounts for roughly 2/3 of royalty revenue.