Alberta Budget Report 2016

“THE ALBERTA JOBS PLAN”

 On April 14, 2016, the Honourable Joe Ceci, President of Treasury Board and Minister of Finance, presented his second budget and the second budget of Alberta’s NDP government. In the first budget presented by this government in October 2015, a deficit of $6.1 billion was predicted for the 2015-16 fiscal year. As expected with the continued fall in oil prices, today’s budget indicates that the financial condition of the province has not improved as the revised deficit forecasted for 2015-16 is now $6.4 billion. The projected deficit for
2016-17 is $10.4 billion, and the projected deficit for 2017-18 is $10.1 billion. In media reports, the Minister predicted that Alberta will not balance the books until 2024.

Highlights

• Deficit for 2015-16 of $6.4 billion
• Deficit of $10.4 billion predicted for 2016-17
• Budget to be balanced by 2024
• Small business tax rate reduced
• No personal tax increases