Alberta Budget Report 2015

"10 Year Strategic Plan — Putting Things Right"

On March 26, 2015, the Honourable Robin Campbell, President of Treasury Board and Minister of Finance, presented his first budget. In a much anticipated deficit reduction budget, the government laid out a ten year plan to stabilize the province’s finances. This plan uses a combination of three levers — spending restraint, enhancing revenue and using savings in the Contingency Account.

The surplus reported for the 2014-15 fiscal year is $248 million. Due to the drastic drop in oil prices, this will change significantly to a deficit of $5 billion for the 2015-16 fiscal year. The deficit will decrease to $3 billion for the 2016-17 fiscal year and under the plan, the government expects to return to a surplus in 2017-18.

Highlights

• Consolidated surplus of $248 million for 2014-15
• Consolidated deficit of $5 billion for 2015-16
• Graduated personal income tax rates introduced
• Health care levy introduced

Download our full budget report