Overview

Budget 2022 moves Alberta forward by building health system capacity, getting more Albertans to work and putting forward a balanced budget for only the second time in 15 years.

The budget includes a new initiative called Alberta at Work, which will create pathways to success for all Albertans, no matter where they are on their career path.

2022-23 First quarter update

Total expense of $62.7 billion is forecast, an increase of $0.6 billion from budget. About half of the increase is for the cost of selling oil, offset by higher resource revenue, and most of the remainder is for re-profiling of the site rehabilitation program, fully offset by federal transfers. The $0.3 billion expense to extend electricity rebates is being funded from the budgeted contingency.

Table 1. Expense (millions of dollars)

Source: Treasury Board and Finance
Expense items 2021-22 Actual 2022-23 Estimate 2022-23 Forecast Change from Budget
Operating expense by ministry:
- Health 21,302 22,018 22,018 -
- Kindergarten to Grade 12 7,846 8,390 8,442 52
- Post-secondary 5,280 5,444 5,435 (9)
- Social service ministries 7,410 7,820 7,825 5
- Other ministries 6,722 6,462 7,052 590
Operating expense (excl. COVID, Recovery Plan, Early Learning & Child Care, crude-by-rail) 48,560 50,134 50,772 638
Canada-Alberta ELCC Agreement 104 666 666 0
Capital grants (excl. COVID, Recovery Plan) 2,118 2,148 2,189 41
Amortization / inventory consumption (excl. COVID, loss on disposals) 3,620 4,057 4,011 (46)
- Debt servicing 2,641 2,662 2,684 22
- Pension provisions (365) (289) (289) 0
Total expense (excl. COVID, Recovery Plan, contingency and CBR) 56,678 59,378 60,033 653
COVID / Recovery Plan: Operating expense 2,812 687 985 298
COVID / Recovery Plan: Capital grants, inventory consumption 949 281 314 33
Contingency: COVID/Recovery Plan - 750 699 (51)
Contingency: Disaster and emergency assistance 3,076 1,000 700 (300)
CBR provision 866 - 0 0
Total expense 64,378 62,096 62,731 635

Budget documents

More budget information

Find out what Budget 2022 means for you.

A summary of Alberta's Budget 2022 economic forecast.

Revenue projections from taxes, transfers, investment income and resources.

Budget 2022 invests in the infrastructure families and communities need.