Alberta's first-quarter fiscal update shows the government expects a surplus of $2.9 billion but won't have surplus cash in the short term.
WATCH ABOVE: : We knew the Alberta budget would be one of fiscal restraint and the finance minister calls it a responsible plan. As Adam MacVicar reports, there are funding increases to health and education, and some tax increases as well. – Feb 29, 2024Alberta’s first-quarter fiscal update shows the government expects a surplus of $2.9 billion but won’t have surplus cash in the short term and will need to borrow hundreds of millions of dollars.
Finance Minister Nate Horner said it’s an accounting surplus, meaning the money is tied up, so in the meantime the province will need to take on $641 million in short-term borrowing.Kevin Falcon moves to suspend BC United’s campaign, will work with BC Conservatives The province is pegging the price of West Texas Intermediate oil at US$76.50, up US$2.50 per barrel than what was forecast at budget.In 2024-25, the government plans to spend $73.3 billion and rake in $76.2 billion in revenues.
Despite the operating surplus, the government has no plan to immediately introduce the personal tax cut Premier Danielle Smith promised in the 2023 election.Canada Post at ‘critical juncture’ due to unsustainable finances: board chairRussian player’s induction into Hockey Hall of Fame ‘deeply offensive’: UCCKevin Falcon moves to suspend BC United’s campaign, will work with BC ConservativesCalls mount for N.B.
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