Pandemic spending, no tax increases: Some highlights from the Alberta budget

By The Canadian Press

EDMONTON — Alberta’s United Conservative government tabled its budget Thursday. Here are some of the highlights:

No new taxes or tax increases.

Deficit of $18.2 billion on estimated revenues of $43.7 billion.

Spending of $57.3 billion before expenditures on COVID-19 and cancelled crude-by-rail      contracts.

Spending on COVID-19 to be $1.1 billion. An extra $1.8 billion as needed.

Taxpayer-supported debt of almost $116 billion by March 2022. Annual debt interest      charges almost $3 billion.

Capital spending to be $20.7 billion over three years.

Heritage Savings Trust Fund pegged to reach $16.7 billion.

Personal income tax to generate an estimated $11.6 billion.

Corporate income tax estimated to be $1.9 billion.

Cannabis tax to come in at $105 million.

Public sector compensation, excluding physicians, set at $21.5 billion. To fall to $20.8 billion by 2024. 

Compensation for doctors to remain steady from $5.2 billion now to $5.3 billion by 2024. 

$3.1 billion to diversify economy and expand aviation, tech, pharmaceutical and tourism sectors. 

This report by The Canadian Press was first published Feb. 25, 2021. 

The Canadian Press

Top Stories

Top Stories

Most Watched Today