EDMONTON, October 24, 2019 – The Canadian Federation of Independent Business (CFIB) welcomed the unveiling of today’s provincial budget as the first step to finally getting Alberta on a more responsible and sustainable fiscal path.
“Today’s budget delivers tough, but much needed medicine. Our province faces an incredibly difficult fiscal situation that was created by years of unsustainable government spending. Thankfully, the new government has accepted it cannot spend in such a reckless manner,” says Richard Truscott, Vice-President, Alberta and BC.
For twelve of the last sixteen years, Alberta governments have increased operating spending beyond inflation and population growth. In eight of those years, the increases were high single digits or more.
Truscott continued: “Not only has the government had an enduring overspending problem, it has also had a big budgeting problem. Time after time, our political leaders simply could not restrain themselves from spending whatever revenue was coming in, and then some.”
According to a survey of almost 800 business owners in late July and early August, 99 per cent agreed the government needs to have a meaningful plan in place to reduce spending, while 86 per cent said balancing the budget was important for their business.
“There needs to be a long-term plan in place to make sure future growth in the operating budget is affordable, sustainable, and will deliver the desired results. It may also be time to take a serious look at a legislated limit on annual increases in overall operating spending,” concluded Truscott.
To set up an interview, please contact Richard Truscott, Vice-President, Alberta and BC, at [email protected] or 403-444-9290.
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region, including 10,000 in Alberta. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.