UCP to use surplus to re-index personal income taxes, inject $3-Billion into long-neglected Heritage Savings Trust Fund
The bonanza that will define Alberta’s finances this year starts to take shape this week with a fiscal update that will forecast the province’s surplus at more than $13-billion, instead of the $515-million predicted at the beginning of this year.
“It really shows how fluid the natural resource situation is – which has always been a struggle that Alberta has had when it comes to our budget conditions.” Mr. Nixon said Alberta’s overall debt will be knocked down to below $80-billion. That will help reduce debt-servicing costs that total billions of dollars annually.
However, other “affordability programs” will continue for the time being. Alberta’s gasoline tax holiday will stay as long as resource prices remain high, he said. And the electricity rebate program is showing significant promise in reducing Alberta’s inflation rate, he said. He expects natural gas rebates during the colder months will do the same.
But that idea faded away in times of financial stress. In 1987, the transfer of natural resource royalty revenues to the fund were halted. The value of the fund has eroded – as oil and gas royalties rolled in – and its returns often went into general revenues.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UCP to hold last debate for leadership candidatesThe final debate for candidates looking to replace Jason Kenney as United Conservative Party of Alberta leader will be held tonight
Read more »
Seven UCP leadership contenders set to face off in Edmonton | CBC NewsThe candidates vying to be the next United Conservative Party leader - and premier - will take part in the second and last official debate tonight.
Read more »
UCP leadership hopeful Danielle Smith says Ottawa's hiring 'climate cops'United Conservative Party leadership candidate Danielle Smith is pushing hard on the idea that Justin Trudeau is hiring 'climate cops.'
Read more »
UCP leadership contenders to face off for final official debate before ballots are shippedWith votes potentially being split between seven candidates, Tuesday\u0027s debate is an opportunity to appeal to voters for down\u002Dballot support, and will be…
Read more »