Dear Neighbours,
Following strong economic momentum and solid results in the first quarter of 2022-23, Alberta’s government is moving forward with plans to lower the debt burden and increase savings, now and for the future. We also intend to invest an historic $1.7 billion into the Alberta Heritage Savings Trust Fund and keep the $1.2 billion earned last year in the fund rather than transfer it to government’s General Revenue Fund, for a total of $2.9 billion. Sound fiscal management helped to get us here, and this principle will continue to direct our decision-making for investing and spending wisely to keep Alberta on stable economic ground. With a balanced budget, a $13.2 billion surplus, and the fastest growing economy in the country, Alberta is strong and continues to build for the future.
Additionally, we are resuming indexation of the personal income tax system to match inflation, beginning for the 2022 tax year, to keep more money in Albertans’ pockets. This fulfills our promise to resume indexation of the personal income tax system once our economic and fiscal recovery was stable. Albertans pay the lowest overall taxes among provinces, with low personal income taxes and no provincial sales tax, payroll tax, or health premium.
We are also providing up to an additional $50 million in 2022-23 to cover recently ratified bargaining agreements with our dedicated teachers. By funding these agreements, Alberta’s government is further ensuring stability for school authorities.
Kids across Alberta recently went back to school, and I am always reminded of the excellent tradition of school choice we have in Alberta. School choice is integral to the Alberta Advantage and something our government will always work to protect.
Happy Thanksgiving!
MLA – Calgary Peigan Tanya Fir proudly serves the following Communities: Douglas Glen, Douglasdale, Dover, East Shepard Industrial, Eastfield, Foothills, Golden Triangle, Great Plains, Lynnwood, McKenzie Lake, Ogden, Quarry Park, Riverbend, Shepard Industrial, South Foothills, Starfield, Valleyfield
