Calling it a bit of a roller coaster ride, Finance Minister Doug Horner told reporters Thursday global uncertainty has affected Alberta’s bottom line.

In providing the first quarter update, he says revenue has decreased by $400 million because of lower bitumen royalties.

Expenses also increased by $5 million due to disaster funding.

Horner warned if things don’t improve the province could be on track for a deficit between $2.3 and $3 billion.

“We’re on solid economic footing,” the Minister reported. “We’ve seen strong growth.”

Horner says the government will continue to invest in infrastructure but adds they’re now in a period of having to “tighten their belts.”

“We’ve asked departments to find efficiencies, there will be no new money for public services and we’re asking everyone to review their capital expenses,”

He says Wednesday’s decision to cancel funding for the police college had nothing to due to with their budgeting.

And he has a message for teachers and doctors across the province.

“The message is that the government will hold the line on spending, there’s no new money in the operating budget,” he says.

“My mandate is to have a balanced budget by 2013-2014,” he adds. “I’m not comfortable with the deficit and we’ll be going through every penny the government spends.”

The Finance Minister adds they’ve identified the first third of departments to be reviewed, calling it a comprehensive approach to result based budgeting.

Wildrose Finance and Treasury Board Critic Rob Anderson says it appears the bubble has finally popped on the “Alison Wonderland” budget.

Anderson tells 660News when you factor in capital expenses, the actual deficit will be closer to $6 billion.

He says the Progressive Conservatives based their numbers on unrealistic prices for oil and our sustainability fund is now at risk.

“Things are only going to get tougher and this government seems unable to control itself with the public purse,” says Anderson.

He adds the Redford government hasn’t been truthful with Albertans on their financial mess and fears the province is no longer on the stable ground it once enjoyed.

Meanwhile, Scott Hennig with the Canadian Taxpayers Federation tells 660News, it’s clear the government has a spending problem, not a revenue problem.

He says, “I’m surprised that they’re not giving us real numbers anymore, they’re just giving us ranges. That’s quite a change from the last 20 years where we’ve gotten actual, real budget updates according to the law. Now we’re getting ranges of somewhere between two and three billion; I think the number is probably closer to three or four billion, but since we’re all just guessing at this point because the finance minister isn’t telling us, I guess we’ll just have to wait till next year to find out what the actual numbers are.”

Hennig would like the government to follow the law and produce the actual numbers in the budget.