Clark calls on Minister of Finance to calculate impact of potential credit downgrade
Posted on November 03, 2015 by Meagan Wade
EDMONTON, AB - November 3, 2015 - Finance Minister Joe Ceci’s admission that the ND government hasn’t considered the risk of increased borrowing costs from a credit downgrade are shocking and irresponsible, says Alberta Party Leader Greg Clark.
“Minister Ceci’s admission in response to my question in Estimates about basic financial risk management comes as a surprise,” said Clark. “When the province is undertaking a historic borrowing program it’s essential they consider the impact a credit downgrade would have on Alberta’s ability to repay our debts.
“This is basic financial governance and it’s unacceptable that the NDs haven’t done it.”
Clark called on the Minister to direct his department to complete these simple calculations and share them with Albertans.
“I asked my budget researcher to perform this calculation, and the risk to Alberta is significant,” said Clark. “If a single researcher can perform this calculation in less than an hour, why hasn’t the Minister of Finance, with the significant resources available to him, not done the same thing?”
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Alberta Party Caucus