• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Some highlights from the Alberta budget tabled in the legislature Thursday

March 22, 20183:22 PM The Canadian Press0 Comments

Alberta's Legislature

EDMONTON – Alberta’s NDP government tabled its 2018-19 budget Thursday. Here are some of the highlights:

— Total revenue of $47.9 billion against spending of $56.2 billion. Deficit of $8.8 billion after a $500-million cushion against low energy prices is factored in.

— Fourth consecutive deficit run by Premier Rachel Notley’s government. The deficit was $6.4 billion in fiscal 2015 and $10.8 billion a year later. The current budget is on track for a $9.1-billion shortfall.

— The government projects deficits will fall from $8.8 billion this year, to $7.9 billion, to $7 billion, to $4.3 billion, to $4.1 billion and finally to a $700-million surplus by the spring of 2024.

— Bitumen royalties are expected to fall to $1.8 billion in 2018-19 after spiking up to $2.4 billion this fiscal year.

— Crude oil royalties are expected to continue to rise and hit $1 billion.

— The take from income taxes is projected to rise, with $11.4 billion from personal income tax and $4.6 billion from corporations.

— For the first time, cannabis revenue is being factored into the balance sheet. Recreational marijuana use becomes legal this year and Alberta expects to take in $26 million in taxes.

— Education spending is rising to $8.4 billion from $7.8 billion as the province continues to fund growing enrolment while reducing school fees.

— Advanced education spending is jumping to $6.1 billion from $5.5 billion. The province is extending its tuition freeze for students.

— Alberta predicts the benchmark North American oil price, West Texas Intermediate, will average US$59 a barrel this year. It currently sits above US$64.

— Compensation for public-sector workers is budgeted at $26.6 billion, about half of all government spending.

— Over the next three years, $5.3 billion is to be spent on climate initiatives from transit projects to home efficiency programs.

— The province plans to spend $16 million for school lunch programs for 30,000 students starting this fall. That’s up from $10 million in the current school year.

— The Assured Income for the Severely Handicapped program is to grow by $62 million to $1.1 billion.

— The government is spending $22 million more on affordable child- care spaces for a total of $393 million.

— A salary freeze on non-union employees across the public sector is to be extended to September 2019.

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Perpetual Energy Inc. completes note exchange and makes PIK interest payment
  • Trudeau, Biden to talk today as death of Keystone XL reverberates in Canada
  • Canada’s rig count at 183
  • Indigenous business coalition leader says Keystone XL denial will hurt communities
  • Alberta premier wants direct compensation from U.S. if Keystone XL pipeline dead

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.