Government mail service may be affected by the Canada Post labour disruption. See how to send and receive government mail during this time.
Overview
Budget 2024 builds the schools, hospitals and roads Alberta’s communities need today and can rely on as they grow. The Budget 2024 Capital Plan invests $25 billion over 3 years, a $2 billion increase from the Budget 2023 Capital Plan.
The 2024 Capital Plan funds projects and initiatives that boost Alberta’s advantage and invest in Albertans. It will create opportunities for private-sector participation and support an average of over 24,000 direct jobs and 13,000 indirect jobs per year through to 2026-27.
The government’s latest budget update is now available online. Read the 2024-25 Second Quarter Fiscal Update and Economic Statement.
Second quarter update on capital plan
The 2024-25 Capital Plan is now forecast at $8.3 billion which is close to budget, with $3.5 billion for capital grants and $4.7 billion in capital investment.
The forecast aligns with the progress of completion and project scheduling, ensuring projects continue to be delivered as committed in Budget 2024.
Key budget investments
- $7.2 billion over 3 years to support municipalities to build and create vibrant communities:
- $2.4 billion in Local Government Fiscal Framework funding to help Alberta municipalities fund local infrastructure projects
- $60 million for the new Local Growth and Sustainability Grant Program to help municipalities fund economic development and sustainable growth initiatives
- $1.6 billion for light rail transit projects in Calgary and Edmonton, including $43 million in new funding for the Calgary Blue Line
- $955 million to improve major roadway corridors in Calgary and Edmonton
- $129 million to support ongoing work to twin Highway 11 between Rocky Mountain House and Sylvan Lake
- $2.1 billion to support 98 school projects, add modular classrooms and support charter and collegiate schools
- $55 million to upgrade facilities and equipment that support wildfire operations
- $810 million to advance the redevelopment and expansion of Red Deer Regional Hospital Centre
- $654 million to build and modernize continuing care facilities across the province
- $313 million for the Alberta Surgical Initiative to increase the number of surgical procedures performed annually
- $35 million for the EMS Vehicles Capital Program to purchase new EMS vehicles and ambulances and upgrade the existing fleet
- $328 million, consisting of $191 million provincial funding and a $137 million federal contribution, to develop recovery communities and children and youth mental health facilities
- $456 million for the Alberta Petrochemicals Incentive Program to support investments in Alberta’s petrochemicals sector
- $30 million for the Aboriginal Business Investment Fund to support business opportunities in Indigenous communities by helping fund start-up and expansion costs
- $405 million for the Affordable Housing Partnership Program to help build 13,000 new affordable housing units
- $539 million to expand and improve municipal water and wastewater infrastructure
- $251 million over 3 years in capital funding for flood and drought mitigation projects such as canals, dams, spillways and reservoirs
- $63 million for Olds College to renovate and expand student spaces in the W.J. Elliott Building
- $55 million to increase STEM programming capacity at the University of Calgary
- $26 million for the University of Lethbridge Rural Medical Teaching School
- $30 million for the new Community Recreation Centre Infrastructure Program to support the development of small and mid-sized recreation facilities
Capital funding at a glance
Chart 1: Capital funding envelopes
Funding highlights
The 2024-27 Capital Plan honours previous commitments to build and maintain key infrastructure projects and includes additional investments in health-care facilities, schools projects and an efficient and effective road system.
$7.2 billion for municipal-related infrastructure
$3.7 billion for capital maintenance and renewal of public infrastructure
$2.2 billion for roads and bridges
$3.6 billion for health infrastructure
$2.1 billion for K to 12 schools projects
$1.4 billion to streamline government service delivery
$533 million for public safety and emergency infrastructure projects
$1.1 billion for agriculture and natural resources projects and programs
$323 million for arts, sports and recreation projects and programs
$829 million for family, social supports and housing
$361 million for post-secondary infrastructure
$1.6 billion in self-financed investments for schools, universities, colleges and hospitals
More budget information
Find out what Budget 2024 means for you.
A summary of Alberta's Budget 2024 economic forecast.
Revenue projections from taxes, transfers, investment income and resources.
Summary of government spending according to Budget 2024.