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Putting Alberta’s Financial Future in Focus

In his final communication to the Members of Alberta’s Legislative Assembly, and to Albertans, Auditor General Merwan N. Saher FCPA, FCA stresses the importance of long-term fiscal reporting as the path to a sustainable financial future for Alberta.

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Summary

What follows is our commentary, which has a conclusion based on the facts as we see them. As your Auditor General, I summarize as simply as I can:

Fact

No government in Alberta has reported about Alberta’s financial condition in the long term.

Problem

Without a long-term outlook, a government cannot show whether decisions made today are likely sustainable in the long run. Without long-term reporting, Albertans are being asked to accept on faith that we can carry on borrowing indefinitely or that government has an acceptable plan to increase revenues or reduce expenses which will kick in as oil and gas revenues decline.

Conclusion

Albertans should be shown through long-term reporting whether the government of the day intends to narrow the fiscal gap and if so how and at what speed. Alberta’s structural deficit – or fiscal gap – is the biggest risk to the Province being able to provide quality programs and services into the future.

News Conference: Putting Alberta’s Financial Future in Focus
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