Budget 2019 A plan for jobs and the economy Travis Toews, President - PowerPoint PPT Presentation

Budget 2019 A plan for jobs and the economy Travis Toews, President of Treasury Board and Minister of Finance

Budget 2019 Themes • Getting Alberta Back to Work • Making Life Better for Albertans • Standing up for Alberta 2

Budget 2019: Debt 3

Budget 2019: Provincial Comparators 4

Budget 2019: Revenue 5

Budget 2019: Investment, Jobs & the Economy • Job Creation Tax Cut • Accelerated Capital Cost Allowance • Red Tape Reduction • Elimination of Carbon Tax 6

Corporate tax among the most competitive 7

Budget 2019: Key Fiscal Metrics 8

Operating Expense Comparison $ billions 9 Source: 2018-19 Third Quarter Fiscal Update and Budget 2019

Budget 2019: Key Ministry Spending • Health: $20.6 billion • Education: $8.2 billion • Advanced Education: $5.1 billion 10

Budget 2019: Social Services • Budget 2019 makes no cuts to social programs. – 7.6% increase to Community and Social Services – 1.6% increase to Seniors and Housing – 15% increase to Children’s Services • Alberta Child and Family Benefit to replace Alberta Child Benefit and Alberta Family Employment Tax Credit 11

Budget 2019: Municipalities 12

Budget 2019: Public Sector 13

Budget 2019: Capital Plan • Invests $24.2 billion over 4 years • Averaged $7 billion per year over the last decade • Expect to bring average down to just over $6 billion per year, as per MacKinnon Panel 14

Budget 2019: Standing up for Albertans • $30 million a year for Canadian Energy Centre – Promoting our clean energy – $2.5 million for public inquiry into foreign-funding of anti- energy campaigns • Fiscal Fairness for Alberta – On Equalization, exclude non-renewable resources revenues and implement a cap on the program – Federal fiscal stabilization 15

This budget is the fulfillment of our promise to Albertans. We are putting Albertans back to work.