Thursday, April 09, 2009

Alberta Budget- Where the real losses are!

Using the Government surplus figures as a basis and, taking the exchange rates 2006-07 as nominal 10% and 2008-2009 as nominal 25%, I have developed the following alternate table.

I am using the BC Saskatchewan royalty rates of 30% for a low comparison.

These figures then represent the inside lowest possible royalty figures.

Past surpluses -Royalty % - Sask and BC royalty
2000-01 — $6.57 billion- at 25% US - 30% - Should have been 8.54 Loss 1.97 Billion
2001-02 — $1.08 billion - at 25% US - 30% - Should have been 1.40 Loss .32 Billion
2002-03 — $2.13 billion at 25% US - 30% - Should have been 2.56 Loss .43 Billion
2003-04 — $4.14 billion at 25% US - 30% - Should have been 4.97 Loss .83
2004-05 — $5.18 billion at 19% US - 30% - Should have been 8.18 Loss 3.0 Billion

2005-06 — $8.55 billion at 19% US - 30% - Should have been 13.5 Loss 4.95 Billion (10% Exchange)

2006-07 — $8.51 billion at 19% Canadian 30% - Should have been 14.29 Loss 5.78 Billion

2007-08 — $4.58 billion at 19% Canadian 30% - Should have been 8.15 Loss 3.57

Projected deficits
2009-10 — $4.7 billion at 19% Canadian dollar - Should be surplus of 3.9 Billion

2010-11 — $2.4 billion at 19% Canadian dollar - Should be surplus of 5.89

2011-12 — $1.8 billion - Should be surplus of 11.44

That is a total Loss of 20.02 billion dollars swept away on a Conservative platform. One that says there can be no extra cash in Government, it must go to the companies.
They call it being Great Conservatives. I call it gross fiscal mismanagement.
Albertans will have no change until they get this crew out of office!
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