The province bought a part of oil company Syncrude in the mid-70s and made handsome profits until selling off its shares in the 90s. Still, the government still plans to have the budget balanced before the end of its mandate. CTVNewsEdmonton.ca Digital Journalist, Finance Minister Travis Toews speaks about the upcoming budget, in Edmonton on Wednesday, February 26, 2020. For all of your Alberta budget needs, head to Global News’ dedicated Alberta Budget 2020 webpage. Budget estimates show the government expects to spend $18 million more than last year on the program, though there are no details on the changes. The budget forecasts the oil benchmark West Texas Intermediate to average US$58 a barrel in the upcoming year. Calgary Mayor Naheed Nenshi said the hike will be a big hit to residents’ bottom lines.

The Special Needs Assistance for Seniors program, which helps low-income seniors buy items like foot orthotics and lift chairs, is also being reduced, to “focus on the most essential supports,” according to the budget. 141 Laurier Ave. West, Suite 1000 The unemployment rate was 6.9 per cent in 2019 and is forecast to be 6.7 per cent this year. Instead, school grants will be determined by a weighted, three-year average that the province says will allow it to determine district funding by the spring before the start of the new school year. Tel: 613-563-1341 Since Alberta’s expected to see 2% inflation and 1.6% population growth in the year ahead, this amounts to a real Please read our Commenting Policy first. isal lan – 23 7 Overview A Plan for Jobs and the Economy Budget 2020 takes a measured approach to fiscal management focused on getting Albertans back to work, making life better for Albertans, and standing up for Alberta . READ MORE: “While families scramble to make ends meet, Jason Kenney’s plan is to pile public sector job losses on top of private sector job losses,” said Notley.

This advertisement has not loaded yet, but your article continues below. "We believe and know that real work creation, sustainable job creation, comes from the private sector and to achieve that we have to attract investment back into this province," Toews said. Your email address will not be published. “We recognize that our unemployment rate remains stubbornly high in this province,” Finance Minister Travis Toews told a news conference Thursday before introducing the 2020-21 budget in the legislature. A recent review of Alberta Health Services recommends cuts aimed at saving between $1.5 billion to $1.9 billion a year. To that end, the budget maintains operational funding at current levels for core services: $8.2 billion for kindergarten to Grade 12 education and $20.6 billion for health. Guy Smith, head of the Alberta Union of Provincial Employees, said the budget is more fuel for the smouldering dispute between its members and the government.

The tax is expected to generate a modest $10 million annually, according to the last budget. Save my name, email, and website in this browser for the next time I comment. Last October, the UCP introduced an annual one per cent reduction in corporate income tax, from 12 to eight per cent through 2022. A welcome email is on its way. This is moving us in the wrong direction. “Requiring seniors with higher incomes to pay a deductible brings Alberta in line with other provinces. "Budget 2020 is year two in that four-year fiscal plan," the finance minister said. The Alberta government plans to reduce operating expenses over the next three years to the tune of $1.2 billion, or 2.5 per cent, while increasing some user fees, according to the provincial budget released Thursday. “Removing non-seniors from the drug plan, using lower cost but equally effective drugs, and introducing an income-tested deductible for high-income beneficiaries – are necessary steps,” she said. It’s a $53M province-wide cut over 3 years.

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Edmonton city council is debating its own set of bylaw changes to apply to short-term rentals with a decision expected next week. Thursday’s budget also said an additional planned 1,197 housing units for Alberta seniors will also built over the next three years, and that the government will use online tools such as MyAlberta Digital ID to save money in the Seniors and Housing department. Alberta budget 2020 winners and losers, In addition, President and CEO of the Calgary Chamber Sandip Lalli said from the business community’s perspective, they feel the stability the government has presented in the fiscal plan and in this budget is “very encouraging.”. Highlights from Alberta budget 2020.

What does budget 2020 mean for Alberta education funding? Drug benefits for seniors are being cut by $72 million this year, the 2020 budget revealed Thursday. In sum, this is the Jason Kenney government’s second consecutive budget in which inflation and population growth are doing much of the heavy lifting. Alberta Budget 2020: What does it mean for rural Albertans and smaller municipalities? The 2020/21 budget is expected to be approved later this month. “It’s going to be up to school boards to find ways to fill those funding gaps.”. Alberta Budget 2020: What does it mean for rural Albertans and smaller municipalities? Use of this Website assumes acceptance of Terms & Conditions and Privacy Policy, Published Wednesday, February 26, 2020 12:32PM MST, Last Updated Wednesday, February 26, 2020 2:24PM MST, Throne speech: Kenney promises jobs, an improved economy and direct democracy as Alberta legislature returns, A look back at the UCP's first budget 4 months later, Five charts to see before budget day in Alberta, Vote counting continues, Biden remains in the lead, Machete-wielding man threatens store clerk, $70M Lotto Max jackpot goes to first-time player in Quebec, Kenney announces more guidelines as Alta. The government says the changes will result in all Alberta school divisions seeing an increase in operation funding for the next school year, but isn't releasing funding details until the 2020 provincial budget is tabled. Alberta Budget 2020: What does it mean for rural Albertans and smaller municipalities? This is equivalent to the cost of 135 long-term care beds or a new K-9 school. According to Brown, the province will have an immunity to blame regarding the increase because the property tax forms are mailed out by municipalities. Kenney’s United Conservatives were elected last April on a promise to focus on oil and gas and bring jobs back to Alberta by reducing the corporate income tax rate and red tape. Kenney’s United Conservatives were elected last April on a promise to focus on oil and gas and bring jobs back to Alberta by reducing the corporate income tax rate and red tape.