Alberta's finance minister says he would like to see a panel formed within the next year and a half to address the province's often volatile revenue structure.
Travis Toews told the Calgary Chamber of Commerce on Thursday that the province has worked hard on its fiscal framework and has been reducing debt and cutting spending.
With a population of 4.4 million, the province is on track to take in $70.7 billion in revenue and spend almost $67 billion. Another $1.5 billion is being set aside for unforeseen spending emergencies. The panel concluded that to achieve a balanced budget by 2022-23, the provincial budget should have no increases in government spending for four years and a reduction in operating costs by at least $600 million, as well as cuts in capital spending.
Toews said he personally wants to see Alberta taxes remain low, but it would be his desire that nothing be off the table when a revenue committee begins its work. He said he will be making an announcement in the "upcoming days" on whether he will seek re-election. The next provincial election is scheduled for May.
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