Big surplus, no new taxes: Highlights of the Alberta budget
By The Canadian Press on February 28, 2023.
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. 15-14
