Diane Francis: Alberta’s Real Economic Advantage.
Albertans are unique because they don’t occupy a parallel universe, living on other peoples’ money. They live in the real world and the province’s current fiscal deficit has sparked intelligent conversation.
The Alberta Advantage is its adherence to discipline and is why it has the lowest taxes in the country. Alberta is the only debt-free sub-national in the Western Hemisphere. And now that a rainy day has hit, the province is financially resilient: it has some $16 billion (in a stability fund) on hand to ride out shortfalls, a $16 billion Heritage Fund and, most importantly, the backing of its voters to cut spending rather than raise taxes. “There will be no taxes raised,” said Premier Alison Redford in a discussion I had with her at an Alberta Enterprise Group gathering this week.