Ian Kucerak/Edmonton Sun/Postmedia Network   Ian Kucerak/Edmonton Sun, Marlin Schmidt (right), MLA for Edmonton-Gold Bar, applauds Finance Minster Joe Ceci's Budget 2015 speech on the floor of the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015.   Ian Kucerak/Edmonton Sun, Finance Minister Joe Ceci (left) shakes hands with Premier Rachel Notley after giving the Budget 2015 speech on the floor of the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015.

Sounds like a bad idea to me.”.

Tabled in the legislature on Tuesday, Budget 2015 shows the government will post a $6.1-billion deficit this year followed by three more multi-billion dollar deficits before turning the tide with a $1 billion surplus — in 2019-20. Ian Kucerak/Edmonton Sun/Postmedia Network, Media members conduct interviews with political, economic and cultural groups in the rotunda after the government's delivery of Budget 2015 at the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015. "Instead of taking the side of families and their concerns seriously, the NDP government plowed forward with an agenda that is now leading to further job losses, less opportunity and higher taxes," party leader Brian Jean said in a news release. U.S. election: Why has the race seemed so close?

  Ian Kucerak/Edmonton Sun. WATCH ABOVE: The premier warned cuts were coming and now we know just how much more Albertans will pay. Liberal Leader David Swann called it a “mixed bag” budget, praising the investment in infrastructure and the two-year freeze on post-secondary tuition but also criticizing the lack of a debt repayment plan. Jean added that increased borrowing means the government is paying more in interest. The province says the average Alberta family – with two children and two working parents making a combined $120,000 a year – will pay an estimated $288 more in taxes this year and $480 in 2016.

Ian Kucerak/Edmonton Sun/Postmedia Network, David Shepherd, MLA for Edmonton-Centre, applauds Finance Minister Joe Ceci as he gives the Budget 2015 speech on the floor of the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015.

In order to fund increases to health care, education and capital projects as well as new programs to stoke the province’s slowing economy, the NDP government’s first fiscal plan takes the provincial debt to record highs, empties its rainy-day savings account, and begins borrowing to keep the lights on for the first time in over 20 years. Alberta ended fiscal year with $6.4B deficit, CBC's Journalistic Standards and Practices. Health spending will hit $19.7 billion this fiscal year, education will hit $7.6 billion and advanced education will hit $5.7 billion.

"If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue, and it opens up a revenue hole in Alberta's finances that approaches $10 billion," he said.

However, the annual report shows the extent to which resource-dependent Alberta was hurt by oil prices that plunged through the latter half of 2015.

Albertans will no longer be charged a 10 per cent flat tax. * A $6.1-billion deficit this year followed by three more multi-billion dollar deficits before a $1 billion surplus in 2019-20. Each $1 drop in the average price over the course of a year costs the province $215 million.

There will be a new refundable tax credit and improvements to existing rules to aid lower-income working families. "This government does not know how to manage an economy in transition," Clark said in a new release. Ian Kucerak/Edmonton Sun/Postmedia Network Campbell said it’s important to keep those rates low to prevent further damage to Alberta’s fragile economy.

Borrowing for operations alone will reach $3.1 billion in 2017-18 and by 2018, taxpayers will be on the hook for $1.2 billion in annual debt-servicing costs. "And there's actually precious little we can do about that.   Ian Kucerak/Edmonton Sun, Irfan Sabir (centre), Minister of Human Services, is interviewed in the rotunda after the government's delivery of Budget 2015 at the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Alcohol taxes are going up by 16 cents for a bottle of wine and 90 cents for a 12-pack of beers as of Friday. Oil prices, the lifeblood of Alberta's economy, have been in free fall since last summer, tumbling from US$100 a barrel to below US$50 a barrel this week. Once proud to be debt-free, Alberta’s red ink is now set to sail past $36 billion and could reach as high as $47 billion. In order to fund increases to health care, education and capital projects as well as new programs to stoke the province’s slowing economy, the NDP government’s first fiscal plan takes the provincial debt to record highs, empties its rainy-day savings account, and begins borrowing to keep the lights on for the first time in over 20 years. Alberta will run rampant red ink to boost public services against a backdrop of tumbling oil revenues. Ian Kucerak/Edmonton Sun/Postmedia Network, Glenn van Dijken, Wildrose Party MLA for Barrhead-Morinville-Westlock, reads budget documents during Finance Minister Joe Ceci's Budget 2015 speech on the floor of the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015. Ian Kucerak/Edmonton Sun/Postmedia Network, Finance Minister Joe Ceci (left) and Premier Rachel Notley share a laugh before Ceci gave the Budget 2015 speech on the floor of the Alberta Legislature in Edmonton, Alta., on Tuesday October 27, 2015.