Alberta Budget 2023: UCP government posts $2.4 billion surplus, with rise in spending ahead of election ableg abpoli
New Alberta Fund unveiled with long-term framework
If legislation is passed to put the plan into effect, it will mean at least 50 per cent of the surplus would need to go to repaying debt maturing that year, with the remainder going to a new $1.4 billion “Alberta Fund,” which could be spent as of the new fiscal year starting April 1. “It’s anything but a slush fund. It was conceived to bring discipline to the use of surplus,” he said, adding the priorities are savings and debt repayment.
Expected revenue includes $14 million in personal income taxes, $5.9 million in corporate income tax, and $12.5 million in transfers from the federal government. Funding for controversial proposals long-bandied by the UCP, including an Alberta Pension Plan, an Alberta Police Service, and a liability management program for inactive oil and gas wells are not included in the budget.
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