Finance Minister Travis Toews will introduce the budget in the legislature on Feb. 27, 2020. (Photo by THE CANADIAN PRESS)

Finance Minister Travis Toews will introduce the budget in the legislature on Feb. 27, 2020. (Photo by THE CANADIAN PRESS)

Budget day: Alberta government planning to balance books, boost employment

EDMONTON — It’s budget day in Alberta.

And while the United Conservative finance minister is saying the province remains on track to end the deficit, the Opposition NDP is warning people to brace for deep cuts.

Finance Minister Travis Toews will introduce the budget later today in the house, and says the plan remains to balance the books by 2023 while introducing a new blueprint to boost employment.

It’s the second budget by Premier Jason Kenney’s UCP government, which was elected last spring on promises to increase jobs, grow the economy and revitalize Alberta’s wellspring oil and gas industry.

But since last summer, the province has shed about 50,000 full-time jobs.

And this week, Teck Resources Ltd. decided not to pursue a highly anticipated $20-billion oilsands mine project in northern Alberta amid concerns about its economic viability.

On top of that, the province has budgeted the benchmark West Texas Intermediate oil price at US$57 per barrel for this year, with it rising to $63 in two years.

But global conditions, including reduced demand from China due to the novel cornonavirus, has seen the WTI hover recently around the $50 mark, well below what the government has been hoping to take in for revenue.

The NDP has also noted that Canada’s six private sector banks project Alberta’s economy will grow by 1.7 per cent in 2020, a full percentage point lower than the prediction in the first UCP budget presented last fall.

NDP finance critic Shannon Phillips says she expects deeper cuts to health and education to make up for the lost revenue.

This report by The Canadian Press was first published Feb. 27, 2020.

Alberta budget

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A commercial building, housing two businesses, in Stettler was completed destroyed by a fire Thursday. (Photo courtesy Stettler Regional Fire Department)
Fire destroys commercial building in Stettler

A commercial building just outside of Stettler was destroyed by a fire… Continue reading

Almost half of Alberta's population should have at least one shot by the end of May said Premier Jason Kenney Monday morning.
Alberta poised for economic ‘renaissance’ after pandemic, says premier

Economic recovery is Alberta’s “next big challenge,” says the province’s premier. “It’s… Continue reading

Red Deer has a new welcome sign at the south end at the new entrance from Hwy 2. (Photo by SUSAN ZIELINSKI/Advocate staff)
Red Deer ranks 241st on MacLean’s Best Communities list

The list features 415 Canadian communities

Dr. Wayne John Edwards, 66, died Tuesday at Chinook Regional Hospital. (Cornerstone Funeral Home)
Lethbridge doctor becomes 7th Alberta health-care worker to die from COVID-19

Dr. Wayne John Edwards, who was 66, died Tuesday at the Chinook Regional Hospital in the southern Alberta city

A FedEx worker loads the 255,600 doses of the Moderna COVID‑19 vaccine which came from Europe into a freezer trailer to be transported during the COVID-19 pandemic at Pearson International Airport in Toronto on Wednesday, March 24, 2021. THE CANADIAN PRESS/Nathan Denette
Canada’s incoming supply of Moderna vaccine slashed in half through end of April

Procurement Minister Anita Anand says Canada’s incoming vaccine supply from Moderna will… Continue reading

Red Deer Public Schools will not pilot the new draft curriculum at its elementary schools. (File photo contributed by Red Deer Public Schools)
UPDATED: Red Deer Public Schools says no to piloting new curriculum

Alberta Teachers’ Association support school boards

Have an opinion you'd like to share? Submit letters to the editor through our website, via email or the postal service. (Heather Colpitts/Black Press Media)
Letter: MLAs who are against tougher restrictions have no plan for consequences

The group of UCP MLAs pushing to end lockdowns are exacerbating what… Continue reading

Former Parti Quebecois leader Andre Boisclair leaves the police station after being charged with two counts of sexual assault dating back to 2014, Friday, May 29, 2020, in Montreal. THE CANADIAN PRESS/Ryan Remiorz
Preliminary inquiry in September for ex-PQ leader Boisclair charged with sex assault

MONTREAL — Former Parti Quebecois leader Andre Boisclair will have a preliminary… Continue reading

Three vials of the Moderna COVID-19 Vaccine are pictured in a new coronavirus, COVID-19, vaccination center at the Velodrome-Stadium in Berlin, Germany, Wednesday, Feb. 17, 2021. THE CANADIAN PRESS/AP/Michael Sohn, pool
Trudeau sending help to Ontario as Pfizer vaccine supply bolstered by 8 million doses

Prime Minister Justin Trudeau says more doses of COVID-19 vaccines are coming… Continue reading

Teachers demonstrate outside a school during a morning walk out in Longueuil, Que., Wednesday, April 14, 2021. Around 73,000 Quebec teachers say they will walk off the job for several hours on April 27. THE CANADIAN PRESS/Paul Chiasson
73,000 Quebec teachers plan to walk off the job for more than two hours April 27

MONTREAL — Around 73,000 Quebec teachers say they will walk off the… Continue reading

People line up in the rain for a COVID-19 vaccine at a pop-up clinic at the Masjid Darus Salaam in the Thorncliffe Park neighbourhood in Toronto on Sunday, April 11, 2021. THE CANADIAN PRESS/Frank Gunn
Ontario science advisers urge six-week stay-home order as province pleads for help

TORONTO — Ontario’s science advisers called for a six-week stay-at-home order and… Continue reading

Dr. Wayne John Edwards, 66, died Tuesday at Chinook Regional Hospital. (Cornerstone Funeral Home)
Lethbridge doctor becomes 7th Alberta health-care worker to die from COVID-19

Dr. Wayne John Edwards, who was 66, died Tuesday at the Chinook Regional Hospital in the southern Alberta city

Alberta Premier Jason Kenney updates media on measures taken to help with COVID-19, in Edmonton on Friday, March 20, 2020. Alberta is set to join three other provinces in exploring the feasibility of small modular reactors as a clean energy option. THE CANADIAN PRESS/Jason Franson
Students in Alberta town ready to return to school after quarantining

ATHABASCA, Alta. — A superintendent of schools in northern Alberta says the… Continue reading

Britain’s Prince Charles, with Camilla, Duchess of Cornwall, visits the gardens of Marlborough House, London, Thursday April 15, 2021, to look at the flowers and messages left by members of the public outside Buckingham Palace, following the death of Prince Philip. (Jeremy Selwyn/Pool via AP)
Princes William, Harry won’t walk side-by-side at funeral

LONDON — Prince William and Prince Harry won’t walk side-by-side Saturday as… Continue reading

Most Read