New Alberta budget projects $3.4 billion shortfall
Posted Feb 24, 2011 3:54 pm.
This article is more than 5 years old.
The Stelmach government has tabled its final budget.
Finance Minister Lloyd Snelgrove presented the document at the Legislature Thursday afternoon, calling it practical and responsible.
He tells the Legislature the budget is based off living within our means, saving for emergencies and planning for better days.
The 2011 provincial budget forecasts a deficit of $3.4-billion.
The budget contains few changes to programs, services or projects and plans a tiny overall spending increase of half of one per cent.
Operational spending will be $33.9-billion, a 2.2 per cent hike over last year, with the Health Department spending close to $15-million on operations.
Revenues are up $1.6 billion from last year.
Fees are going up for car registration, incorporating a business, searching a land title and reserving a camping spot.
The deficit will be covered by the province’s Sustainability Fund, which will be down to $5.3 billion by year’s end.
Snelgrove says revenue from oilsands royalties will lead an expected rebound that will have the province back in the black by 2014.
Former Finance Minister Ted Morton reportedly quit over the budget, because he didn’t like the idea of posting another deficit.
Morton is now in the race to replace retiring premier Ed Stelmach.
The financial document does include spending cuts in some departments to pay for programs in critical areas like health and education.
