Alberta Bound? Province Releases Budget, Projects $6.1 Billion Deficit For 2015-16

On October 27, 2015, Alberta released what Premier Notley referred to as a "shock absorber" budget. Created in the context of an anticipated recession, decreased revenues, and pressure to address an economy struggling with low oil and gas prices, the NDP government's first budget ushers in a record deficit and almost $30 billion in new borrowing over the next five years.

For years, government spending in Alberta has been supported by natural resource revenues, allowing one of the highest rates of government spending per capita while maintaining the lowest taxation rates in the country. The fall in oil price has resulted in a loss of over $5 billion of government revenues, and triggered a significant decrease in private sector employment. Alberta is now in the unenviable position of attempting to maintain its public services with a significantly decreased revenue base.