This release was issued under a previous government.
Budget 2014, the next phase of the Building Alberta Plan, delivers fiscal responsibility with a consolidated surplus of $1.1 billion while keeping operating expense growth under population plus inflation for the second year in a row. There are also no new taxes or tax increases.
“Budget 2014 is a good budget. It delivers on the values and priorities of Albertans—a balanced budget, investment in key services, building infrastructure and putting some of our savings to work.”
More than $19 billion will be invested in key infrastructure projects across the province over the next three years to support the country’s fastest growing population. Projects include:
- 155 K to 12 school projects;
- seven post-secondary projects;
- 24 health facility projects;
- 258 kilometres of new and twinned roads;
- 2,500 kilometres of rehabilitated highways, which is more than two and a half times the distance from Lethbridge to Fort McMurray; and
- more than $5 billion in support for municipal infrastructure.
In addition to these important capital investments, $1 billion in new money is going toward priority programs and services: K to 12 and post-secondary education, healthcare and supports for the vulnerable.
Budget 2014 also delivers a renewed purpose for the province’s savings, which will grow to $26 billion over the next three years. It commits $1.4 billion to innovation and strengthening labour market capacity through two new endowments—the Agricultural and Food Innovation Endowment and the Social Innovation Endowment, along with the new Alberta Future Fund, and by adding to the existing Alberta Heritage Scholarship Fund.
“With a fully balanced budget, the strongest balance sheet in the country, a thriving economy and a growing population, Alberta’s future is indeed bright.”
Bill 8, the Appropriation Act, 2014, was passed on April 23.
Under the Building Alberta Plan, our government is investing in families and communities, living within our means, and opening new markets for Alberta’s resources to ensure we’re able to fund the services Albertans told us matter most to them. We will continue to deliver the responsible change Albertans voted for.
Multimedia
Watch on YouTube: Explaining Alberta's Budget