Jobs are up, the budget is balanced, and Alberta has finished the fiscal year strong.
Thanks to a growing economy, improved energy prices, and a commitment to fiscal discipline, Alberta ended the 2021-22 fiscal year with a budget surplus of $3.9 billion, the first surplus our province has seen in seven years. Further, the Alberta Heritage Savings Trust Fund grew to its highest net value in Alberta history – $18.7 billion – earning $1.95 billion in investments to bring the total value of the fund’s investments to $20 billion. This is a strong economic turnaround that all Albertans can celebrate, and an opportunity to save resource revenue for future generations.
Alberta has the fastest growing economy in the country, the lowest taxes, and an affordability advantage relative to other provinces of similar size. More than 200,000 new jobs have been created since 2021 and unemployment is at its lowest level since 2015.
Despite all this good economic news, we know Albertans are struggling right now with high costs due to rising inflation. I want you to know that we are working to immediately make life more affordable for families and businesses. Our government recently announced that we are extending the fuel tax cut on gasoline, diesel, and marked farm fuel until at least the end of September. We are also reinstating the Fuel Price Contingency Program for school authorities, providing $8.2 million in fuel cost relief to school boards for the current school year, and additional relief next school year if required. And soon we will be providing over 1.9 million households, farms, and small businesses with electricity rebates to ease the burden of utility bills.
MLA – Calgary Elbow Doug Schweitzer proudly serves the following Communities: Altadore, Bel-Aire , Britannia, Elbow Park, Elboya, Erlton, Garrison Green, Garrison Woods, Glamorgan, Lincoln Park, Lower Mount Royal, Marda Loop, Mayfair, Meadowlark Park, Mount Royal, North Glenmore Park, Parkhill, Rideau Park, River Park, Roxboro, South Calgary, Upper Mount Royal, Windsor Park
