Highlights from Alberta budget 2019
Alberta’s United Conservative government tabled its budget Thursday. Here are some of the highlights:
* $8.7-billion deficit on revenues of $50 billion.
* Debt projected to rise from the current $63 billion to $72 billion by the spring, on track to reach $93 billion by 2023.
* Three more years of deficits with projected surplus of $584 million in 2023.
* The public sector to be reduced by almost eight per cent over four years, mainly through attrition.
* No budgeted pay increases for public sector workers.
* Program spending to drop 2.8 per cent over four years to $47 billion by 2023.
* Health funding maintained as $20.6 billion.
* Education funding maintained at $8.2 billion.
* Corporate income tax revenue to fall by $700 million to $4.2 billion in 2019-20.
* Operational spending to be reduced by 0.5 per cent this year and eventually by 2.8 per cent to $47.1 billion by 2023.
* A one-time payment of $1.5 billion to end the crude-by-rail shipment plan announced earlier this year by the former NDP government.
* $1.8 billion in new capital funding for schools and new modular classrooms.