Day late, dollar short.That’s how Alberta Finance Minister Nate Horner is describing Ottawa’s “disappointing” fiscal update on Tuesday, saying it didn’t go far enough to meet several of his key priorities including equalization reform, carbon taxation and affordability.And he insisted it’s not just bad for Alberta, but all of Canada.“While we are continuing to analyze the federal government’s fall economic statement, our preliminary review suggests that it falls short of recognizing and addressing the most fundamental challenges we’re facing as a nation,” he said in a statement.“When Alberta does well, Canada does well, and our government will continue to advocate for policies and actions that support Albertans and Alberta’s economy.”.“As the largest per-capita net contributor to the federation, Alberta taxpayers shoulder a disproportionately high share of the national debt burden. The federal government’s proven inability to control spending is threatening the prosperity of future generations.”Finance Minister Nate Horner .Several of Alberta’s priorities remain unaddressed, he added, including requests for a review of the Equalization Program or meaningful reforms to the Fiscal Stabilization Program. And continued high levels of deficit spending continue to drag on the economy as a whole.Last year’s fall economic statement promised a $4.5 billion surplus by 2027/28. Now, that forecast is a deficit of $24 billion, followed by an $18-billion deficit in 2028/29.“As the largest per-capita net contributor to the federation, Alberta taxpayers shoulder a disproportionately high share of the national debt burden. The federal government’s proven inability to control spending is threatening the prosperity of future generations.”.Horner said federal supports for carbon capture remain elusive and vague. Along with promises to create a carbon contract market and whether so-called major emitters in “all sectors” — presumably oil and gas — will be allowed to participate.He also expressed “disappointment” with the reluctance of the federal government to extend carbon tax rebates to all forms of home heating. He said it shows a lack of commitment to address affordability generally.“The federal economic update was a missed opportunity for the federal government to show that it cares about all Canadians equally. If the federal government is serious about keeping life affordable, it must step up and cancel the carbon tax immediately,” he said.In the end, Horner described the effort as a “missed opportunity” to encourage lagging investment and productivity.“Canada’s economy has great potential, but the federal government has yet to bring forward a comprehensive plan to spur meaningful investment and address our competitiveness challenges,” he said.
