News Releases

Provincial Budget 2018: Is This Really a Path Back to Balance?

March 22, 2018

The Edmonton Chamber of Commerce was pleased to see Budget 2018 reference a path back to balance, but the Province’s plan to eliminate the $8.8 billion deficit relies too heavily on optimistic revenue projections.

The budget included a plan for eliminating the deficit by 2023, however it depends on factors outside of the Province’s control, like the Trans Mountain expansion and global oil prices.

“We need this pipeline to go ahead and we applaud the Premier’s determination to get it built,” said Janet Riopel, President & CEO of the Edmonton Chamber. “However, the government should base its long-term budgeting on factors it can control, such as eliminating waste and finding efficiencies in order to reduce the deficit.”

Budget 2018 increases operational spending by 3.7 per cent, continuing the trend of growing government spending without a clear plan back to balance. This will lead to prolonged fiscal pain and an unmanageable legacy for future generations.

“By 2023 our province will be a staggering $96 billion in debt,” said Riopel. “How will our children, or their children, ever repay that?”

The Edmonton Chamber was pleased to see that Budget 2018 included funding for initiatives that will drive investment, including expanding the Petroleum Diversification Program, expanding investor tax credits and creating a digital industries credit.

“These tax credits will help, but they don’t address the growing cost burden on business. The piling-on of higher taxes, fees, levies and regulations are all eroding the business community’s ability to compete and thrive,” said Riopel. “Alberta needs policies that will make us a magnet for investment, innovation, diversification, strength and growth.”


Media contact:
Sheila Keenan
Edmonton Chamber of Commerce
Cell: 780-446-6264 

Budget 2018: Canada’s Competitiveness Undermined Despite Modest Stimulus

Canadian Global Cities Council Calls for National Urban Strategy to Advance Infrastructure Delivery

BC's Plan to Block Pipeline Defies Confederation

Edmonton Chamber of Commerce’s 2018 Board of Directors

Private Retail Plan for Cannabis is Win-Win-Win for Alberta

Private Retail for Cannabis Will Help Alberta Succeed

Edmonton Chamber Rolls Out Red Carpet with 2018 Chamber Ball

Edmonton Chamber Calls On Local Businesses To Join National Protest On Tax Changes

Edmonton Chamber Encourages Action on NAFTA

Labour Law Changes Too Rushed to Be Fair or Friendly to Business

Cannabis Legalization Should Include Focus on Workplace Safety

Ready or Not: Legal Cannabis Brings Opportunities and Risks

Edmonton Chamber Celebrates Canadian Free Trade Agreement

Stay connected with the Edmonton Chamber newsletter featuring policy news, event information, business resources and more!

Subscribe To Our Newsletter

I agree to receive the Edmonton Chamber's weekly e-newsletter containing news, updates and promotions. You can withdraw your consent at any time.