Alberta budget will ask all to 'give up a little'
Last Updated: Monday, February 8, 2010 | 8:32 PM MT
CBC News
Alberta Finance Minister Ted Morton says the budget he will bring down Tuesday won't expect any one group to carry the economic burden. (CBC)Alberta's finance minister says he won't be wearing a new pair of shoes in traditional fashion when the Alberta government releases its budget Tuesday afternoon.
"Twelve months from now, hopefully I'll have a nice brand new pair of cowboy boots," Ted Morton said Monday. "But I'll have to earn them."
For the second straight year, the province is expected to announce a deficit — last estimated at $4.3 billion — because of the economic damage done by a global recession and low natural gas prices.
Widespread budget cuts are also expected, despite a pledge by Premier Ed Stelmach to dip into the province's $17-billion Sustainability Fund.
"It asks everybody to give up a little, but doesn't single [out] or target any one group," Morton said. "So everybody's going to have to work together to get us through this transition."
The provincial economy is beginning to show signs of improvement, but Morton said his budget still has to send the right message.
Back on track
"I think the financial community is watching to see if we're back on track to a strong fiscal situation," he said.
Critics are already taking aim. Danielle Smith, leader of the Wildrose Alliance, believes the budget won't be as tough as it should be.
"We're going to see a sea of red ink," said Smith. "I think that they communicated pretty clearly that we're going to be in deficits for three years, that we're going to see a return to debt financing, and those are the things that we're going to be looking at."
But David Swann, leader of the Alberta Liberal Party, cautioned against cutting social programs.
"We need to look for efficiencies but we cannot cut basic services to people," Swann said. "This is the wrong time, and it's not appropriate for those who are most vulnerable."
Morton is expected to stand in the legislature to reveal the budget details around 3 p.m. Tuesday.
