Overview
Budget 2023 secures Alberta’s bright future by transforming the health-care system to meet people’s needs, supporting Albertans with the high cost of living, keeping our communities safe, and driving the economy with more jobs, quality education and continued diversification.
The budget forecasts a surplus of $2.4 billion in 2023-24. Fiscal responsibility is key to achieving our strong fiscal standing and sustainable program delivery in the future. We are committed to paying down debt while positioning our economy for growth and investing in Albertans' top priorities.
What the budget means for you
Budget 2023 continues to provide inflation relief to help with the rising cost of everyday necessities, makes historic investments in health care and education, attracts more investment to help businesses and entrepreneurs thrive, and enhances community policing and access to addiction and mental health supports to keep Albertans and communities safe.
Economic outlook
Alberta is well positioned to face potential economic challenges. Our economy has fully recovered from the pandemic downturn and is expected to lead the country in gross domestic product (GDP) growth at 2.8%. Solid energy prices and population growth are expected to support investment and provide relief to Alberta's tight labour market, but rising borrowing costs and prices will continue to dampen consumer spending.
Revenue
Alberta's revenue is projected to be $70.7 billion in 2023-24 and remain above $70 billion for the next few years. Fears of a looming global recession are expected to soften commodity prices, while investment income is expected to recover well after dropping last year.
Expense
Budget 2023 secures Alberta's future by prioritizing fiscal responsibility and living within our means, while making spending decisions that support the long-term sustainability of the programs and services that are important to Albertans. The total expense for 2023-24 is $68.3 billion, which is $2.6 billion more than the forecast for last year.
Capital plan
Alberta's 3-year capital plan secures jobs and prosperity for Albertans by investing in infrastructure projects that help strengthen our health-care system, enhance safety and security and provide essential services and supports. Nearly $23 billion in priority capital project funding will support 20,000 direct and 12,000 indirect jobs each year through to 2025-26.
Watch the news conference
Finance Minister Travis Toews provides details on Budget 2023.
News
- April 27, 2023
Alberta’s government is expanding mental health supports in schools to support positive mental health outcomes for children and youth.
- April 25, 2023
Calgary residents with serious heart conditions will soon have better access to coronary and intensive care now that construction to redevelop the Rockyview General Hospital has begun on three projects.
- April 25, 2023
A Fugitive Apprehension Sheriffs Support Team (FASST) is being created to ensure that offenders accused and convicted of crimes are swiftly brought to justice.
- April 24, 2023
A new interchange in Alberta’s Industrial Heartland will improve safety, support the movement of heavy trucks and boost economic growth in the region.
- April 21, 2023
Alberta’s government is providing an additional $240 million over three years to increase access to vital supports for Albertans with developmental disabilities.
- April 19, 2023
A new public charter school hub will drive innovation in Alberta’s school system, support creativity, lead research initiatives and partner with post- secondary institutions.
- April 19, 2023
Alberta’s government is investing new funding in Lethbridge schools to ensure students have the space they need to succeed close to home.
- April 18, 2023
Alberta’s government is taking additional action to expand capacity for patients waiting for medical imaging so Albertans can get the care they need when they need it.
- April 17, 2023
Budget 2023 increases support for Indigenous job creators and entrepreneurs by boosting funding to the Aboriginal Business Investment Fund (ABIF) by 50 per cent.
- April 13, 2023
Alberta's government is investing $193 million to create nearly 8,000 new seats in high-demand post-secondary programs across the province.