Fiscal Policy Trends: Who will pay the interest on Alberta’s public debt?

William Lyon Mackenzie King, Canada’s 10th Prime Minister, used to say “Today’s promises are tomorrow’s taxes”. A more up-to-date version would be “Today’s deficits are tomorrow’s taxes.” Alberta’s governments began running deficits in 2008-09 and the NDP government only plans to balance the provinc...

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Veröffentlicht in:The School of Public Policy publications (Online) 2018-05, Vol.11 (1)
Hauptverfasser: Bazel, Philip, Crisan, Daria, Dahlby, Bev
Format: Artikel
Sprache:eng
Online-Zugang:Volltext
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Zusammenfassung:William Lyon Mackenzie King, Canada’s 10th Prime Minister, used to say “Today’s promises are tomorrow’s taxes”. A more up-to-date version would be “Today’s deficits are tomorrow’s taxes.” Alberta’s governments began running deficits in 2008-09 and the NDP government only plans to balance the provincial budget in five years’ time. By then, Alberta’s public debt will have risen to about $90 billion with annual interest payments of $3.8 billion in 2023-24.1 Who will pay the taxes to pay the interest on Alberta’s public debt? — Future taxpayers.
ISSN:2560-8312
2560-8320
DOI:10.55016/ojs/sppp.v11i1.52822