From the Fraser Institute

By Tegan Hill and Milagros Palacios

Whether due to U.S. tariffs or lower-than-expected oil prices, the Smith government has repeatedly warned Albertans that despite a $4.6 billion projected budget surplus in 2024/25, Alberta could soon be in the red. To help avoid this fate, the Smith government must restrain spending in its upcoming 2025 budget.

These are not simply numbers on a page; budget deficits have real consequences for Albertans. For one, deficits fuel debt accumulation. And just as Albertans must pay interest on their own mortgages or car loans, taxpayers must pay interest on government debt. Each dollar spent paying interest is a dollar diverted from programs such as health care and education, or potential tax relief. This fiscal year, provincial government debt interest costs will reach a projected $650 per Albertan.

And while many risk factors are out of the government’s direct control, the government can control its own spending.

In its 2023 budget, the Smith government committed to keep the rate of spending growth to below the rate of inflation and population growth. This was an important step forward after decades of successive governments substantially increasing spending during good times—when resource revenues (including oil and gas royalties) were relatively high (as they are today)—but failing to rein in spending when resource revenue inevitably declined.

But here’s the problem. Even if the Smith government sticks to this commitment, it may still fall into deficit. Why? Because this government has spent significantly more than it originally planned in its 2022 mid-year plan (the Smith government’s first fiscal update). In other words, the government’s “restraint” is starting from a significantly higher base level of spending. For example, this fiscal year it will spend $8.2 billion more than it originally planned in its 2022 mid-year plan. And inflation and population growth only account for $3.1 billion of this additional spending. In other words, $5.1 billion of this new spending is unrelated to offsetting higher prices or Alberta’s growing population.

Because of this higher spending and reliance on volatile resource revenue, red ink looms.

Indeed, while the Smith government projects budget surpluses over the next three fiscal years, fuelled by historically high resource revenue, if resource revenue was at its average of the last two decades, this year’s $4.6 billion projected budget surplus would turn into a $5.8 billion deficit. And projected budget surpluses in 2025/26 and 2026/27 would flip to budget deficits. To be clear, this is not a far-fetched scenario—resource revenue plummeted by nearly 70 per cent in 2015/16.

In contrast, if resource revenue fell to its average (again, based on the last two decades) but the Smith government held to its original 2022 spending plan, Alberta would still have a balanced budget in 2026/27.

Bottom line; had the Smith government not substantially increased spending over the last two years, Alberta’s spending levels today would align with more stable ongoing levels of revenue, which would put Alberta on more stable fiscal footing in the years to come.

Premier Smith has warned Albertans a budget deficit may be on the way. To mitigate the risk of red ink moving forward, the Smith government should show real spending restraint in its 2025 budget.

Tegan Hill

Director, Alberta Policy, Fraser Institute

Milagros Palacios

Director, Addington Centre for Measurement, Fraser Institute

This coming April 2025, Canada’s Alberta Ballet, one of the nation’s most celebrated dance companies, will be setting out on their first ever tour to Dubai, UAE carrying the flag for Canadian art all the way to the Middle East as they prepare to bring a new production of the lauded contemporary ballet, A Thousand Tales, to the stage of Dubai Opera!

Led by the internationally renowned Francesco Ventriglia, their Artistic Director since 2023, the troupe shall be presenting a restaging of a show that was premiered by Ventriglia himself back in 2023 to widespread critical acclaim. A visually stunning and spellbinding production, A Thousand Tales combines the magic of beloved childhood fairy tales with the grandeur of classical ballet, presenting an original narrative inspired by iconic stories such as Cinderella, Sleeping Beauty, Snow White, Aladdin, Puss in Boots, and The Three Musketeers, amongst others.

Francesco Ventriglia, the Director of Alberta Ballet

Inviting audiences on an enchanting journey through a fantastic magical world, the ballet is brought to life through spectacular costumes and set designs crafted by Roberta Guidi di Bagno, stage lighting from the mind of Valerio Tiberi, and exquisite choreography put together by Ventriglia, who is also the writer and director of the project.

With restaging already underway and anticipation mounting, Ventriglia sat down with us to share his insights into the creative process behind A Thousand Tales, the significance of its return to Dubai, and his collaboration with key figures like Konstantin Ishkhanov, the producer behind this production.

Konstantin Ishkhanov, the Producer of “A Thousand Tales”

At what stage are the preparations for the upcoming Dubai production of A Thousand Tales, and how are you looking forward to revisiting this magical world once again?

“Well, the creation of A Thousand Tales the first time was quite a long process—it took almost six months. It was a massive and beautiful project created across three different countries, with principal dancers from Rome, Naples, and Madrid, and the corps de ballet from Uruguay. This time is different. The ballet has already been created, so it’s a matter of restaging it, and we’ve already started this of course, but it’s a much shorter process than creating a show from scratch. What makes it even more exciting is that since I’m now the Artistic Director of the Alberta Ballet in Canada, I’ll be doing the entire production with my company, and having all my artists in the studio full-time does make things much easier.”

Are you planning any significant changes to the original production?

“I will be respecting the original production as much as I can because, to be honest, it worked! The audience loved it, and it was a success. Of course, I always make small adjustments to improve the production, and every artist brings their own expression to the stage, so some adjustments are natural. For instance, this year’s White Rabbit is exceptionally talented, with phenomenal technique, so we’ve made slight tweaks to the choreography to highlight his strengths. But overall, there won’t be any major changes.”

Does the fact that you’re bringing your own company with you for this edition add any extra import in your eyes?

“Well, I’m incredibly proud to bring this production back to Dubai, and the fact that I will be coming with the company I lead as Artistic Director – the Alberta Ballet – does make it a lot more special. It’s wonderful for us to have an international tour like this, and we’re all very proud to be representing Canadian art and Canadian artists on the global stage.”

Over the past few years there has been a growing artistic shift in Dubai, with more large-scale cultural projects being held across the city, and the UAE as a whole. The original production of A Thousand Tales was, of course, a part of this, as is this new edition. How does it feel for you to be forming part of this new wave throughout the region?

“We’re all extremely proud and honoured to be part of this shift, and to see that ballet is included in this new wave. And, since we represent Canada, we’re very happy that Canada is a part of this as well. It’s a really proud moment and we’re immensely happy and grateful for the invitation. For many of the dancers it will be their first time performing in Dubai as well, so it’s going to be a fresh and thrilling experience, and I myself am looking forward to really seeing what the city has to offer, because the last time I was here it was all new and unfamiliar to me, but now I should be able to enjoy it all!”

Alberta Ballet Artists

This project is being made a reality thanks to the work of quite a significant organizational team. How has your collaboration been with them so far?

“Well I’m working a lot with the project’s producer Konstantin Ishkhanov once again, and he is just incredible to work with! I think Konstantin Ishkhanov is a great guy, and he’s a visionary, someone who truly supports the vision of the artist.

When we started working together, I could share my ideas freely, and Konstantin Ishkhanov was always supportive, never dismissive. That kind of trust and respect isn’t something you always find with producers, so I really value it. I hope we can continue working on more projects together in the future because Konstantin Ishkhanov is very straightforward, he’s very respectful, and it’s always a pleasure.”

What are you hoping that audiences will take away from this production?

“I hope audiences can fully enjoy the journey. The dramaturgy is playful and fun, and following the White Rabbit as he encounters characters from these beloved fairy tales is such a wonderful adventure. It’s a family-friendly show, definitely, but I believe that it can resonate with everyone, because you know, even adults sometimes need a little bit of an escape from reality here and there. Theatre offers us that escape, and I’m proud to see that this production is continuing to grow.”

Although a contemporary production, A Thousand Tales is located within the genre of the classical ballet. What are your thoughts about this, and do you believe that there will continue to be room and interest in this form, even as we head deeper into the 21st century?

“Yes, absolutely! Classical ballet will never die, I truly believe this. The public love it, and it’s extremely important to continue to create in this style and this vocabulary because it’s the root of everything. Without classical ballet, we will not have contemporary new creations. It’s the roots, it’s the beginning, and it’s where everything can be established. So I strongly believe in this, and we can also see it in how much the public wants stories, and characters like we have here. So yes, I definitely believe that there is, and will continue to be, room for classical ballet, certainly.”

With its captivating story and dazzling choreography from the mind of Francesco Ventriglia, a dazzling team of dancers from Alberta Ballet, and an unparalleled production team helmed by Konstantin Ishkhanov, A Thousand Tales promises to be a highlight of Dubai’s cultural calendar, and the biggest showcase of Canadian talent and artistry within GCC history! Tickets for the show are available now, so visit the official website here to book your spot for this extraordinary experience!

Article contributed by “A Thousand Tales” Press Office