Alberta Finance Minister Nate Horner addresses the Calgary Chamber of Commerce at 12:30 p.m. today to promote the province’s 2026 budget. The plan emphasizes significant spending while projecting a substantial deficit surpassing $9 billion.
Budget Presentation and Challenges
Horner tabled the budget in the Alberta legislature yesterday. He highlighted pressures from a growing population and declining oil prices, stressing the importance of sustained spending to navigate economic headwinds.
Projected Deficits
The 2026 fiscal year anticipates a $9.4 billion deficit, followed by $7.6 billion and $6.9 billion in the subsequent two years.
Political Reactions
Opposition New Democrats accuse the United Conservative government under Premier Danielle Smith of economic mismanagement. They claim past oil boom profits were squandered, leaving future generations with billions in debt.
Municipal Leaders Weigh In
Alberta’s major city mayors offer contrasting views. Calgary Mayor Jeromy Farkas criticizes a sharp rise in education property taxes for residents. Edmonton Mayor Andrew Knack acknowledges the increase as necessary to fund schools adequately.
Tax and Fee Increases
The education property tax hike adds $340 annually for a typical Calgary homeowner and $154 in Edmonton. Additional fees and levies aim to generate $360 million for the province this year.
