• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Alberta to use $13.2B budget windfall to pay down debt, put cash in piggy bank

August 31, 202211:04 AM The Canadian Press0 Comments

EDMONTON – Alberta’s finance minister says the government is going to use this year’s projected windfall budget surplus to pay down debt and put some cash in its piggy bank.

Jason Nixon says the plan is to make a $13.4-billion repayment on the provincial debt and add almost $3 billion to the Heritage Savings Trust Fund.

Nixon says that in the past Alberta governments often failed to sock money away in boom times and it now has to make decisions to benefit future generations.

His comments come a day after Premier Jason Kenney announced the forecast for this year’s budget is no longer expected to be $511 million but $13.2 billion.

Alberta is riding another wave of financial prosperity due to high global oil and gas prices along with higher royalty payments from maturing oilsands projects.

Kenney says the extra cash also allows the province to end a policy decision made in 2019 to de-index non-refundable income tax brackets and tax bracket thresholds.

A recent study by the University of Calgary’s School of Public Policy says the move effectively forced Albertans to pay almost $647 million more in taxes from 2020 to 2022.

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Venture Global cashes in on exports from Plaquemines LNG plant, SEC filing shows
  • Journey Energy Inc. Provides Encouraging Results from Its First Three 2025 Duvernay Wells
  • US proposes rules that could boost oil, gas output in US West
  • Ontario Premier Doug Ford pitches railway to Ring of Fire, Alberta is on board
  • Alberta to hold nuclear power consultations as reactor companies weigh opportunities

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.