EDMONTON — Alberta Premier Ed Stelmach says his government has cut the deficit by more than $2 billion.
Stelmach told party faithful Thursday night that the deficit has fallen to under $2 billion, down from $4.7 billion.
He cited higher-than-forecast personal income and corporate taxes helped cut the deficit.
“Any improvements in our bottom line means that we will take less out of the sustainability fund,” Stelmach said.
“Now our operations are balanced for this particular year although the margin is very slim, but there are risks...”
He pointed to a forest fire burning northwest of Edmonton near the hamlet of Opal, which has area residents on alert and a few homes already evacuated.
He also told the sold-out crowd at the annual premier’s dinner that the province will support Edmonton’s bid for the 2017 World Expo.
It’s anticipated the next level of the bid process will cost $22 million.
He told the crowd the bid is “the kind of energy and optimism that should be supported by the province.”
The premier said if the bid is successful, the province, the federal government and the city will be expected to contribute to host it.
It could cost more than $2 billion to host the Expo, with between $115 and $160 million coming from the city of Edmonton.
The premier also says like to see a high-speed rail link between the capital city and Calgary, but says it’s probably not feasible to have in place for the World Expo.