By The Canadian Press

Provincial Budget

Big surplus, no new taxes: Highlights of the Alberta budget

Mar 1, 2023 | 2:14 PM

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 on 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.

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— No new taxes.

— Operational health spending to rise 4.1 per cent.

— Kindergarten to Grade 12 operating expenses increase 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.

The Canadian Press