The Government of Alberta’s Budget 2018 was released in March and projected a deficit of $8.8 billion with continuing deficits for the next five years. By 2023, Alberta will have accumulated $96 billion in debt.
What does this mean for my business?
Budget 2018 included funding for initiatives that will drive investment, including:
- Expanding the Petrochemicals Diversification Program;
- Expanding the Alberta Investor Tax Credit; and
- Creating a Digital Industries Tax Credit.
What is the Edmonton Chamber’s view?
The Edmonton Chamber was pleased to see Budget 2018 reference a path back to balance, but the Province’s plan to eliminate the deficit relies too heavily on factors outside of Alberta’s control.
Budget 2018 increases operational spending by 3.7 per cent, continuing the trend of growing government spending.
Overall, Budget 2018 does not adequately address the costs that burden the business community. Alberta needs policies that will make us a magnet for investment, innovation, diversification and growth.