NDP defends fiscal decisions as credit downgrade looms
Posted Jul 10, 2017 12:35 pm.
This article is more than 5 years old.
Despite Alberta being at risk of another credit downgrade, Finance Minister Joe Ceci continued to defend the decisions the government is making.
His comments come as credit agency DBRS said the rating remains at double A-high, but the trend on long-term ratings has been changed to negative from stable and the province could face a downgrade within a year.
“We have always wanted to ensure that we’re a shock absorber government for people so that they don’t feel the negative effects in their families to the degree that they could be if the Wildrose or the Conservatives were in government,” Ceci said at a Stampede pancake breakfast Monday morning.
He said the Wildrose plan to cut $7-billion in spending would cause pain for Albertans.
One reason credit agencies are so concerned is the size of the deficit, which Ceci admitted bothers him too.
“We’re all concerned about the size of the deficit, we want it to go in one direction and that is down,” he said. “The focus we’re having, the attention we’re putting to oil prices and other things is daily so this is not something that we’re focused on.”
Premier Rachel Notley also insisted the province has set a course and despite concerns around the deficit, the province can deal with lower than anticipated oil prices and get where they promised.
“We’re still operating within terms that we’re quite comfortable with now, understanding that we’ve laid out a responsible and careful plan to budget at around 2023 and we know that’s where we have to get and that’s what we’re keeping our eyes on,” she said.
