Budget 2013: Responsible Change
Budget 2013 delivers the responsible change Albertans want and expect. The budget is a sensible fiscal plan that responds to the Bitumen Bubble. It builds a better Alberta by investing in families and communities, securing new markets for our resources, and ensuring we live within our means.
Alberta is expanding, with a young population that is expected to grow by 100,000 people this year. Budget 2013 focuses on what Alberta needs to do to prepare for life 20 years from now, when Alberta’s population is expected to reach five million people.
This long-term vision is reflected in a new fiscal framework that includes clear rules about saving, spending and borrowing, and in government’s commitment to build the infrastructure Albertans want and need, like roads, schools and health care facilities.
- Operational expense is $36.4 billion – same as the 2012-13 forecast.
- Continued investment in core areas like health and education, support for municipalities and vulnerable Albertans.
- Alberta’s bitumen continues to sell for a larger discount to North American and global benchmark oil prices. The resulting decrease in bitumen royalties has led to an expected drop in resource revenue of $6.2 billion from the 2012 budget’s forecast for 2013-14.
- Annual legislated savings plan will see the province’s savings and endowment funds grow to $24 billion over the next three years.
- Starting in 2014-15, a portion of non-renewable resource revenue will be taken off the top of government revenue and put into savings.
- In 2014-15, the Alberta Heritage Savings Trust Fund will retain 30 per cent of its income. By 2016-17, the fund will retain 100 per cent of its income.
- $5.2 billion invested in 2013-14 – $15 billion over the next three years.
- Major commitments include funding for:
- 50 new schools and 70 modernizations,
- New facilities for six post-secondary education institutions,
- Twinning of Highway 63,
- Stable MSI funding for municipalities - $2 billion over three years, and
- $2.1 billion for healthcare facilities.
Page last updated: March 7, 2013