The Government of Alberta is focusing on strategic investments, eliminating waste, and charting a path towards a balanced budget as it works to recover from the “resource revenue rollercoaster” the province has encountered over the past decade.
“The recession is behind us and Alberta’s economy is looking up. Alberta’s economy is creating good, mortgage-paying jobs and Alberta led the country in economic growth last year and is poised to do so again in 2018,” said Joe Ceci, minister of finance. “We will hold the line on spending increases and invest in new opportunities that create good jobs and diversify the economy. We will make sure the benefits of Alberta’s strengthening economic recovery will reach all Albertans and is built to last.”
The budget’s capital plan calls for a $30 billion investment over the next five years, including:
- $4.6 billion for health infrastructure;
- $2.2 billion for schools;
- $3.3 billion for roads and bridges;
- $5.4 billion for capital maintenance;
- $6.9 billion for municipalities;
- $2.1 billion for climate change and environmental sustainability; and
- $3 billion, over the next 10 years, for light rail transit in Edmonton and Calgary.
The budget documents included a breakdown of major project expenses to be realized over the five years of the capital plan, including a handful of significant health care investments (over $300 million):
- $1.236 billion for the Calgary Cancer Centre, including an estimated $295 million in 2018-19;
- $367 for Clinical Infrastructure Systems, with $80 million in projected expenditures in 2018-19;
- $590 million for the Edmonton Clinical Laboratory Hub, with $10 million to be spent in the upcoming fiscal year; and
- $623 million for a new hospital in Edmonton, just $5 million of which is allocated for the 2018-19 budget.
Only one transportation project, valued at over $300 million, is included in Budget 2018-19: the Edmonton and Calgary Ring Roads. The 2018-19 budget calls for $396 million to be invested in the projects, with a five-year projection of $2.144 billion.
For more information on Alberta’s 2018-19 budget, visit: https://www.alberta.ca/budget.aspx
