Premier Jason Kenney’s new expert panel on government spending is an important step in the right direction. But it addresses only one of the three drivers of the fiscal train wreck he has inherited. With a $9-billion per year structural deficit and Alberta’s cumulative debt projected to surpass $90 billion by 2023, cutting expenditures is an absolute necessity. But it leaves untouched the other two variables in Alberta’s budgetary equation: revenues and transfers to Ottawa.
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