Highlights of the Alberta Budget 2019, part 1

Details of Alberta’s Budget 2019, the first for the new United Conservative Party government, has recently been published. Cuts in jobs in the public sector and delays in infrastructure projects are among the efforts laid out in the budget aimed at returning to a balanced budget by 2023.

Here are a few highlights:

• Overall, the budget includes cuts to operating spending of 2.8% over four years compared to 18% in Budget 1993.
• Total revenue is forecast to remain flat at $50 billion in 2019-2020, $50.1 billion in 2020-2021 and $57.5 billion by 2022-2023.
• Policy changes in the budget include the Job Creation Tax Cut, the carbon tax repeal, emissions reduction, post-secondary tuition increases and adjustments to fees.
• Indexation of non-refundable tax credits and tax bracket thresholds will be temporarily paused.
• Taxpayer support debt is forecast to be $93.3 billion at the end of 2022-2023 and debt servicing costs are projected to be $3 billion during that year. The previous forecast of the taxpayer supported debt was $97.1 billion by the end of 2022-2023 and debt servicing costs were projected to rise to $3.4 billion.

Budget 2019 focuses on three key priorities: Getting Albertans back to work, Making life better for Albertans and Standing up for Alberta. We will provide a summary of these key priorities on our next blog so please check back soon!

Source: https://www.cbc.ca/news/canada/edmonton/alberta-budget-1.5332779, https://www.alberta.ca/budget-highlights.aspx
Highlights of the Alberta Budget 2019, part 2
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