Government of Alberta
News release
Budget 2016 – The Alberta Jobs Plan moves Alberta forward by supporting families and businesses through a tough economy, promoting job creation and economic diversification, and carefully controlling government spending.
The Alberta Jobs Plan is built on four key pillars:
. Supporting families and communities;
. Investing in infrastructure;
. Diversifying our energy industry and energy markets; and
. Supporting Alberta business.
“Faced with a 90 per cent drop in non-renewable resource revenue, Albertans are confronted with a choice that will have profound consequences for generations to come. When oil prices fell in the past, governments responded with reckless and extreme cuts and Alberta families paid the price. Our choice is to move Alberta forward and not turn back the clock by repeating those damaging mistakes. Our plan supports Alberta families and businesses as we build a more resilient, diversified economy and carefully control government spending.”
– Joe Ceci, President of Treasury Board, Minister of Finance.
Budget 2016 includes a plan to carefully control government spending to achieve more than $600 million in savings over the next two years.
Cost saving measures include reducing the number of agencies, boards and commissions, freezing management salaries, limiting department spending, slowing implementation of some platform commitments, streamlining programs, and thoughtfully addressing rising health-care costs by reducing the average annual growth to 2.5 per cent from six per cent.
“Our fiscal plan is thoughtfully and carefully reducing the cost of government, while protecting the public services we all count on.”
– Joe Ceci, President of Treasury Board, Minister of Finance.
Severe Revenue Decline
Non-renewable resource revenue is budgeted at $1.4 billion in 2016-17, its lowest in 40 years. As a result, Alberta’s fiscal recovery is now expected to take longer than anticipated in Budget 2015.
Including the Climate Leadership Plan, total revenue will be $41.4 billion in 2016-17. Revenue is expected to grow to $45 billion in 2017-18 and $49.6 billion in 2018-19.