After scrapping its self-imposed debt ceiling law, the NDP government has rubber stamped $14 billion in new borrowing, the Wildrose Official Opposition said today.
The government approved two orders in council on June 10 that will allow it to borrow $14 billion to cover increases in new spending.
“Despite warnings from credit-rating agencies, and four major credit downgrades, the NDP’s fiscal plan is putting the future economic health of our province and core services at risk,” Wildrose Leader Brian Jean said. “At a time when the government should be looking to show restraint, they’re ramping up their reliance on debt and spending.”
Wildrose Shadow Finance Minister Derek Fildebrandt proposed a series of amendments to reinstate a legislated debt ceiling and provide accountability measures for Ministers who miss their targets during the spring legislative session.
“The NDP borrowing stampede shows no signs of slowing down,” Fildebrandt said. “This borrowing will mean higher taxes for families at a time when they can least afford it. Only concrete action to get spending under control can get our books back on a path to balance.”