Alberta Finance Minister Nate Horner is touring the province to promote the 2026 budget. The plan features increased spending but carries a projected deficit exceeding $9 billion.
Despite rising population and low oil prices impacting finances, Horner maintains the need for continued spending to navigate current economic conditions. The opposition NDP criticizes the government's economic management, alleging mismanagement of past oil revenues and accumulating debt.
Mayors of Calgary and Edmonton have differing views on the budget. Calgary Mayor Jeromy Farkas is concerned about an increase in education property taxes, while Edmonton Mayor Andrew Knack acknowledges the necessity for school funding. The tax hike will cost Calgary homeowners an estimated $340 annually and Edmonton homeowners $154. These and other fee increases are expected to generate $360 million for the province this year.
The projected $9.4 billion deficit for the 2026 fiscal year is expected to be followed by deficits of $7.6 billion and $6.9 billion in the subsequent two years.
