Jobs are up, the budget is balanced, and Alberta has finished the fiscal year strong!
Thanks to a growing economy, improved energy prices, and commitment to fiscal discipline, Alberta ended the fiscal year with a budget surplus of $3.9 billion, the first surplus our province has seen in seven years. The Alberta Heritage Savings Fund grew to its highest net value in Alberta history – $18.7 billion – earning $1.95 billion in investments, bringing the total value of the fund’s investments to $20 billion.
This is a strong economic turnaround that all Albertans can celebrate. An opportunity to save resource revenue for future generations, avoiding past mistakes that led to today’s debt burden. In fact, our government paid down the debt by $1.3 billion, so Albertans can look forward to a future without ballooning debt servicing costs.
The Alberta Advantage is back. Alberta has the fastest growing economy in the country, the lowest taxes, and an affordability advantage comparable to similar provinces. With more than 200,000 new jobs created since 2021 and unemployment at its lowest level since 2015.
Despite this good economic news, we know Albertans are struggling with high costs and inflation. I want you to know, we’re working to immediately make life more affordable for families and businesses. Just recently, our government announced we’re extending the fuel tax cut on gasoline until at least the end of September. Soon we will be providing over 1.9 million households, farms, and small businesses with electricity rebates to ease the burden of bills.
Our policies have put Alberta back on a path to prosperity and helped our province embark on another economic boom – more diverse and resilient than the booms we’ve seen before.
In all sectors of the economy, optimism is growing for the future – our government is working tirelessly to continue this momentum, while making life more affordable for working families.
For more information, sign up for my newsletter at [email protected].
Enjoy your summer!
Josephine Pon, MLA Calgary-Beddington
MLA – Calgary Beddington Josephine Pon proudly serves the following Communities: Beddington Heights, Country Hills, Huntington Hills, MacEwan Glen, Sandstone Valley
