The Alberta budget will remain in the red for another five years, which is one year later than what was promised in the spring.
Finance Minister Joe Ceci said the Alberta Government will not balance the budget until the 2019-2020 fiscal year.
“Balancing the budget sooner would mean either postponing our commitment to diversify the economy and get Albertans working again through new investments in schools, roads, hospitals, flood protection and other critical infrastructure,” said Ceci.
Ceci said the delay is due to the slump in the price of oil. However, the leader of the Official Opposition was quick to criticize the NDP.
“Thousands of Albertans are taking a hard look at their spending during the economic downturn, and the NDP need to do the same,” said Wildrose Leader Brian Jean. “We have doubts that the NDP is serious about balancing the budget.”
The budget will be delivered on Tuesday as the fall session of the legislature begins.
“Albertans should brace for no big surprises in this upcoming budget,” said Ceci.
