CP NewsAlert: Alberta budget comes with spending hikes, $9.4B deficit

By Canadian Press on February 26, 2026.

EDMONTON — Alberta Premier Danielle Smith’s government has introduced a new budget that promises more money for health and education but also an eye-popping deficit of $9.4 billion.

Finance Minister Nate Horner says coping with a rising population and lower-than-expected oil prices is putting the squeeze on Alberta’s bottom line.

Horner says the prudent course is to weather the economic storm and work to build the province.

The budget is the second consecutive multibillion-dollar deficit from Smith’s United Conservatives, and they’re forecasting more deficits through to 2029.

The taxpayer-supported debt is also going up and is expected to surpass $100 billion about a year from now.

Consumers will also pay more on a number of items, from dangerous driving tickets to registry fees and car rentals.

More coming.

Lisa Johnson and Jack Farrell, The Canadian Press