Big surplus, no new taxes: Highlights of the Alberta budget
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Hey there, time traveller!
This article was published 28/02/2023 (1310 days ago), so information in it may no longer be current.
EDMONTON – Alberta’s United Conservative government delivered its last budget Tuesday before an election expected in May. It includes a $2.4-billion surplus and more spending in health care, education and justice.
Here are some of the highlights:
— A $2.4-billion surplus based on $70.7 billion in revenues and $68.3 billion in spending (including a $1.5-billion contingency fund).
— Taxpayer-supported debt is to fall to $78.3 billion.
— New fiscal framework legislation to mandate balanced budgets and operational spending caps.
— No new taxes.
— Operational health spending to rise 4.1 per cent.
— Kindergarten to Grade 12 operating expenses increases by 5.2 per cent.
— $178 million of revenue reductions over three years to make post-secondary education more affordable for students, including reduced loan rates, extended repayment grace period and tuition increases capped at two per cent starting in fall 2024.
— Operating and capital funding to municipalities to grow to $3.4 billion from $2.5 billion.
— $10 million over two years to promote rural tourism.
— An $800 million investment over three years from the TIER fund to programs to reduce greenhouse gas emissions and to support green technology.
— The capital plan has $23 billion over three years for a range of projects, including roads, bridges, recreational centres and schools.
This report by The Canadian Press was first published Feb. 28, 2023.