Former Tory promotes constitutional change to make deficits illegal

first_imgCalgary (660 NEWS) – With Alberta’s debt is projected to hit $70-billion by the end of next year, one former politician says it’s time to make balancing the budget a law for the government.Former Tory Cabinet Minister Ted Morton says when it comes to finances moving forward, the government should look to the past, adding now is a good time to adopt a fiscal constitution.“Rules that are constitutionally entrenched, such as a balanced budget law, a tax expenditure limitation, perhaps the flat tax, perhaps mandatory deposits into the Heritage Fund.Morton says in order to restore the so-called ‘Alberta economic advantage’ it’s time for politicians to put the province ahead of their party.“Politicians will always take the short-term self-interest over the long-term public interest.”Fiscal policy is expected to be a key election issue in the next upcoming provincial race.“If we had these constitutional rules in place back in 2005, we wouldn’t be in the trainwreck we’re in today.”Albertans will head to the polls in 2019.last_img