@edmontonjournal How to deal with deficit and how we got there.

Thread.

1. UCP were on track for a record deficit BEFORE the COVID crisis and plunge in oil prices - projected to be around $12b.

In the end, its the highest deficit of any province in Canada in 30 years.

financialpost.com/news/economy/a…
@edmontonjournal 2. Where did the money go?

Despite massive public sector layoffs, and holding funding firm against rising population and needs, the UCP created a deficit in one year that is equal to 2/3s of that created by NDP across their 4 years.

$7.5b to one company

edmontonjournal.com/news/politics/…
@edmontonjournal 3. A trend of shifting public money to private corporations

The Canadian energy industry is the most taxpayer subsidised on earth. Even before the billions given by AB taxpayers, it is reliant on public bailouts.
@edmontonjournal 4. Jobs... but this 'investment' brought jobs, right?

Not for Albertans. The vast majority of the $7.5b AB taxpayer-funded pipeline is in the US, meaning American jobs from AB tax dollars.

So the $7.5 golden goose TC Energy must have hired?

calgary.ctvnews.ca/tc-energy-lays…
@edmontonjournal 5. Ok, so no jobs... but this must mean increased revenue for AB public coffers as a return?

Nope. As projected, with the 8% corporate tax rate, Alberta will receive MORE from the 'hated' federal government in transfers, than AB corporate tax and O&G revenue COMBINED.
@edmontonjournal 5. No jobs and no revenue?? So who is benefiting from the biggest deficit in Canada since the 1980s??

Ohhhhh, its the large oil and gas company / donor executives receiving a wealth transfer!
@edmontonjournal 6. Where does this leave AB after a year and a half of UCP leadership?

-In record-breaking debt

-Second worst in terms of provincial unemployment across Canada

Let's have an adult, statistics / research based discussion about Alberta's economy, shall we?

FIN.

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More from @_mere_anarchy

10 Aug
If people are wanting to investigate please look into the relationship between @BernardoItalia and @ElanMacDonald

Elan is a conservative lobbyist with 'intimate' (ahem) relationships with lawyers serving the medical and dentistry community.

@TheBreakdownAB @HandmaidAlberta
Also look into @ElanMacDonald and D Katz re woman's shelter in downtown Edmonton.

Probably worth checking out relationship with @dialog and @kevinmckee4

@kim_siever @AB_MD_WarRoom
@ElanMacDonald has donated over $14,000 to Alberta conservatives over the last few years under her name and former lobby firm name

Physician Paulose Paul has also donated under his own name and professional.

@kim_siever @HandmaidAlberta @TheBreakdownAB @AB_MD_WarRoom @DShepYEG
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