Yesterday Standard & Poor’s, a bond rating agency, downgraded Alberta’s credit rating — the fourth credit downgrade in less than a year. S&P's also said if things keep going this way, Alberta might have to bring in a sales tax to cover its debts.
Alberta is the only province without a provincial sales tax.
(Although Rachel Notley is bringing in a de facto sales tax next year, with her carbon tax — same thing, really.)
Here’s Dave Cournoyer, who works for a public sector union in Alberta:
"Not having a sales tax basically amounts to forgone revenue for the government. Time for a PST, Alberta. #ableg”
Here’s the Globe and Mail:
"Alberta finance minister just said S&P downgrade is because province isn't using all fiscal tools, code for sales tax, he said. #ableg”
The CBC's also been beating the drum on this for months.
If the bank phoned your house four times in the past year telling you your spending was out of control, and your debt was out of control, do you think your spouse would say — keep going honey, nothing’s wrong, just raid the kids piggy banks?
That’s not how it works in real life...