While typically Albertans can expect to know their provincial government's budget details in spring, a newly-elected NDP government took until this Tuesday (Oct. 27) to release its first budget in the legislature.
While typically Albertans can expect to know their provincial government's budget details in spring, a newly-elected NDP government took until this Tuesday (Oct. 27) to release its first budget in the legislature.
Finance Minister and president of the Treasury Board Joe Ceci detailed the budget publicly, including a $6.1 billion deficit this year, and plans to balance the budget by the 2019-20 fiscal year.
Ceci and the NDP government solicited feedback from Albertans throughout summer on what priorities should be reflected in the budget.
“The values of Albertans came through loud and clear during our consultations,” Ceci said while addressing the legislature. “We are a hopeful and optimistic people, we are enterprising, we are community minded, we care about our neighbours and what desires we wish for ourselves, we wish for all - that is the Alberta way. Those are the values that drive this budget.”
The budget officially reversed a number of cuts to health care and education proposed by the Progressive Conservatives before the election earlier this year. Ceci said diversifying the energy sector and job creation were also top of the agenda for this budget and future ones.
“Albertans told us they want a plan that supports good jobs and a strong economy,” he said. “They told us they want their families' health care and education to be protected, while ensuring every public dollar is well spent - and that's exactly what we are going to do.”
Banff-Cochrane MLA Cam Westhead said the budget clearly addresses three areas in the NDP's platform to stabilize the public service, sets a path to balance the budget and diversify the economy with a job creation plan.
“These are some of our core principles, especially in these difficult economic times,” Westhead said. “What we want to focus on is providing services Albertans need to support them and their families and taking affirmative action to help private industry create more jobs.”
In meetings with Bow Valley municipal leaders, Westhead said they expressed a need to rely on stable funding for infrastructure and operations and this budget provides just that. The budget includes a 15 per cent increase to the capital plan over the next five years and an additional $4.5 billion this year towards fixing roads, building schools and expanding hospitals.
Westhead said details about the specific priorities and projects have yet to be released.
“There is quite a robust infrastructure plan and I look forward to details on how that will play out in the riding,” he said.
There is also a new two-year Job Incentive Creation Program that will provide employers with grants of up to $5,000 for each new job, with up to 27,000 new jobs each year budgeted. As well, there will be investment into new small and medium sized business through access to capital through ATB.
Westhead said that influx of capital will benefit tourism-based communities like Canmore and Banff and new business ventures.
“If you have a great idea, it can be hard to get a loan from the bank to get started and this provides that opportunity for small businesses to get their foot in the door,” he said.
A funding commitment of an additional $101 million this year for Family and Community Support Services was confirmed in the budget, something welcomed by Westhead for communities in this riding.
He said he met with the four FCSS directors in the area (Banff, Canmore, Cochrane and Bragg Creek) earlier this fall and they expressed concern that funding for the program has been stagnant for some time.
“I am extremely pleased there is an increase there because I know they do incredible work in the community reacting to community needs in consultation with local councils,” he said.
Ceci also announced the flat 10 per cent income tax Albertans have experienced will end and be replaced with a “normal, fair, progressive income tax system,” as well as a corporate tax rate of 12 per cent.
“In this budget, we confirm we will do our part to end the race to the bottom on corporate taxes in Canada,” he said.
