December 18, 2015

Statement on Alberta's first credit downgrade in over a decade

Today, Wildrose Leader Brian Jean and Shadow Finance Minister Derek Fildebrandt released the following joint statement on news of Alberta’s credit downgrade from Standard and Poor’s:


“Wildrose had warned the NDP that without any serious plan to get a hold of government spending, Alberta would see a credit downgrade. This should be a wake-up call for the NDP that we can no longer afford to maintain the most expensive and wasteful government in Canada.


“Wildrose provided several amendments in the fall session to put more constraints on borrowing and to limit increases in overall spending. Sadly, the NDP voted these ideas and amendments down.


“The implications of a credit downgrade are wide reaching, including a higher borrowing rate for both the province and municipalities that rely on the province’s credit rating, a weaker sense of investor confidence, and further instability at a time when a hundred thousand Albertans have lost their jobs.


“It is now imperative in the upcoming spring budget that the NDP begin to get serious about finding ways to reduce spending and the size of government instead of continuing to take Alberta down its current path.”


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