Path to Surplus and Elimination of Alberta Debt
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Transcript of Path to Surplus and Elimination of Alberta Debt
BY: PAUL YOUNG CPA, CGADATE: MARCH 19, 2017
Alberta Fiscal Management –March 2017
• SME – Financial Performance Management (TM1, Cognos Controller and Cognos Disclosure Management, OpenPages, Algorithmics, Cognos Integrated Server, Cognos Command Center and Datawatch)
• Industry Experience• 15+ years in Corporate Reporting, Budget & Forecasting, Costing, Business
Process Management, Internal Audit and Controls, Risk Management, Financial Analysis, Costing
• 11+ years in financial solutions (FOPM, FPM, Risk, Office of the Finance, Risk Management)
• 8+ years teaching Advance Finance, Advance Accounting, Public Finance and Advance Management Information Systems
• Blogger in areas like Finance Analysis, Government policies, market segment
Paul Young - Bio
2017-2018 Budget
Agenda
BMO Economics
Alberta Budget 2017-2018
Stats Canada
Canada oil and coal Manufacturing sales
Issues facing Alberta• Production is being added, but not
employment• Forestry sector / Softwood Lumber
import tax• Investment going to other jurisdiction like
Texas• Pipeline capacity
http://business.financialpost.com/news/economy/moodys-dbrs-cast-worried-eye-on-albertas-debt-and-recovery-hopes-based-on-oil
Alberta / Credit Rating
RBC – March 16, 2017
Government – Net Debt
Government Interest cost
https://www.fraserinstitute.org/sites/default/files/cost-of-government-debt-in-canada-2016.pdf
Comment:• Alberta interest is not $800M/year• Provinces like Ontario/PQ interest
cost is 3rd largest expense• Government debt has paid back
• Running Surpluses• Spending cuts• Selling off assets
Government spending by Area
Government spending by Area
http://www.cbc.ca/news/canada/calgary/alberta-bc-budgets-per-capita-comparison-1.3996276
Alberta vs- British Colombia
Gap Action / Alberta
Issues:• Oil is struggling to get above $60/Barrel• Government will have to cut expenses (salaries/cost)• Government will have to run surpluses to pay down the debt• Carbon Tax revenue has to be made up • Alberta spends $5B more than BC on program spending
Global TV – June 28, 2016
CBC – April 22, 2012