Budget 2020 maintains budgets for health, education and core social services. We remain focused on creating jobs, growing our economy, and streamlining programs to ensure a sustainable future.
Our plan to get spending under control is working – we’re on track to balance the budget by 2022-23 and we’re bringing down the deficit faster than expected. We continue to stand up for Alberta by seeking a fair deal and increased provincial power within confederation.
Health and education
Budget 2020 maintains budgets at record levels for health and education. We’re refocusing how dollars are spent to make sure services get to the people they’re meant to serve.
An additional $500 million has been committed to respond to the COVID-19 public health crisis to support front-line health professionals working to keep Albertans safe and healthy.
Alberta's economy is expected to regain its footing in 2020 after a period of weakness in 2019. Our economic forecast for 2020 and beyond reflects an anticipated rebound in oil production and business investment.
Total revenue is forecast to remain flat at $50 billion in 2020-21 and then grow to $58.1 billion in 2022-23. Growth is projected to grow 7.8% in 2022-23 as pipelines come online, oil sands production continues to expand and new investment increases and oil prices and exports rise.
We are committed to reducing the tax burden on Albertans and creating a business climate that supports job creators. This low-rate, broad-based tax approach will level the playing field for all job creators, rather than a select few and continue to make Alberta one of the most competitive places to invest in North America.
We are accelerating our Capital Plan, with a focus on infrastructure that advances jobs and economic growth. The plan honours previous commitments to build and maintain key infrastructure projects and introduces new projects that will create opportunities for private sector participation and support job creation.
Download detailed documents outlining the government's financial plans.
Watch the news conference
Finance Minister Travis Toews provides details on Budget 2020.
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