Stelmach to drop no-debt law - Macleans.ca

Stelmach to drop no-debt law

Still, Alberta’s in nice shape because, he says, “Cash is king, cash is king!”

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Remember that law in Alberta prohibiting provincial deficits? If not, forget it: The Stelmach government is preparing to amend it, paving the way for the Tories to access Alberta’s vast savings and perhaps even allowing it to borrow cheap money for some overdue infrastructure projects. Premier Ed Stelmach tells Albertans not to worry–they’re in much better shape than in the 1990s, when former premier Ralph Klein originally brought in the no-deficit legislation. “We have an opportunity because I honestly believe that cash is king. Cash is king,” Stelmach said. “There’s no (other) jurisdiction that has money liquid.”

Calgary Herald Edmonton

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