Red ink, tax cuts, debt payments: Highlights of Alberta's budget

Education and a personal tax cut were among the highlights of what Alberta's finance minister called a tough budget on Thursday.

EDMONTON — The Alberta government tabled its budget on Thursday. Here are some of the highlights:

-- $5.2-billion deficit with deficits in following two years

-- Taxpayer-supported debt to reach $93 billion

-- Debt-servicing costs at $3 billion

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-- Overall spending up to more than $79 billion with more money for contingencies, tariffs and disasters

-- Kindergarten to Grade 12 school spending up to almost $10 billion

-- Education property taxes rising over six per cent for home and business property owners

-- $26 billion for capital projects including schools, hospitals and other health-care facilities, and highways.

-- $1 billion for personal income tax cuts.

-- $106 million over three years for downtown Edmonton revitalization near Edmonton Oilers arena

-- Personal income tax revenue to fall to $15 billion, corporate tax revenue down to $7 billion

-- Population growth moderate but still rising at 2.5 per cent

This report by The Canadian Press was first published Feb. 27, 2025.

The Canadian Press