Alberta set for $5.5B budget surplus, despite big bucks for fires, floods and drought
CTV
Alberta’s budget surplus is growing but will be offset by more than $1 billion this year to pay for floods, forest fires and drought.
Alberta's budget surplus is growing, but will be offset by more than $1 billion this year to pay for floods, forest fires and drought.
Finance Minister Nate Horner says the province is on track to record a $5.5-billion surplus when the 2023-24 budget year ends in March.
That is a $3.2-billion increase from the surplus predicted when the budget was introduced in February.
The extra money is due mainly to oilsands royalties and higher personal and corporate income taxes, bringing the total estimated government revenue to $74.3 billion, set against $68.8 billion in spending.
“Alberta's economy is resilient, and our finances are on track,” Horner told reporters Thursday as he delivered the second-quarter budget update.
“Our energy sector continues to be a driver of jobs and activity, and at the same time we're seeing growth and diversification in emerging sectors like tech and aviation.”
He added: “We're aware of the many challenges the current global economy presents. Rising costs, higher interest rates and general economic uncertainty are weighing on businesses and consumers.
Mounties say they have dismantled a large drug distribution ring in Metro Vancouver, seizing automatic weapons and hundreds of kilograms of illicit cannabis.
A 21-year-old from southern Ontario has been charged with several offences after a victim from Greater Sudbury was tricked into giving him $20,000.
Ontario Premier Doug Ford is reacting to a threat from incoming U.S. president-elect Donald Trump to impose tariffs on imports from Canada, calling the proposal ‘insulting’ and emphasizing the need for leaders to work together on a response.
The B.C. government and business leaders across the province are urging President-elect Donald Trump to reconsider his promised 25 per cent tariff on all Canadian exports.
Saskatchewan Premier Scott Moe says if President-elect Donald Trump imposes a 25 per cent tariff on all products from Canada and Mexico it would have a disastrous effect on food security and energy across North America.
A Burlington, Ont. woman who allegedly sold fake tickets to Taylor Swift’s concerts in Toronto and scammed fans out of tens of thousands of dollars is facing charges, police say.
Prime Minister Justin Trudeau and members of his cabinet are expected to face fresh questions today about Donald Trump vowing to impose a 25 per cent tariff on all products from Canada and Mexico on his first day in office, if border issues aren’t addressed.
Manitoba Premier Wab Kinew offered condolences Monday to the families affected by two fatal police shootings in the province and spoke to the challenge faced by officers on the front lines.
Nova Scotians will cast their votes Tuesday in a snap provincial election.
Five people have been hospitalized, including four teenagers, following a crash involving a stolen vehicle in Scarborough late Monday night.
With the United States being Alberta’s top trade partner, sweeping 25 per cent tariffs proposed by President-Elect Donald Trump could have a major effect on the province’s economy.