Red ink, tax cuts, debt payments: Highlights of Alberta’s budget

By Canadian Press on February 27, 2025.

EDMONTON — The Alberta government tabled its budget on Thursday. Here are some of the highlights:

— $5.2-billion deficit with deficits in following two years

— Taxpayer-supported debt to reach $93 billion

— Debt-servicing costs at $3 billion

— Overall spending up to more than $79 billion with more money for contingencies, tariffs and disasters

— Kindergarten to Grade 12 school spending up to almost $10 billion

— Education property taxes rising over six per cent for home and business property owners

— $26 billion for capital projects including schools, hospitals and other health-care facilities, and highways.

— $1 billion for personal income tax cuts.

— $106 million over three years for downtown Edmonton revitalization near Edmonton Oilers arena

— Personal income tax revenue to fall to $15 billion, corporate tax revenue down to $7 billion

— Population growth moderate but still rising at 2.5 per cent

This report by The Canadian Press was first published Feb. 27, 2025.

The Canadian Press