Budget 2012: Spending Highlights and Economic and Revenue Highlights
Spending Highlights Overview
- Up $1.8 billiion from 2011-12 forecast, largely due to higher tax revenue stemming from economic growth, federal transfers and investment income
- Total expense up $1.3 billiion from 2011-12 forecast
largely due to about 75% of operating budget being
invested in health, education and human services
- $16.5 billion in public infrastructure over 3 years
- Down $432 million from 2011-12 forecast
- Forecast $5.2 billion surplus by 2014-15
- Alberta’s short-term savings account, built up with money from past surpluses
- Covers the deficit
Click here for the Spending Highlights pdf version.
Investing in families and communities
- $100 million a year to improve access to primary health care and mental health services, including the introduction of Family Care Clinics to provide Albertans a variety of health services under one roof - three clinics to open in 2012.
- $400 per month increase in the maximum monthly living allowance for about 46,000 Albertans who use the Assured Income for the Severely Handicapped program.
- $110 million to decrease homelessness in Alberta,
including the creation of an interagency council that will
provide outreach support services, housing for 1,800
homeless, and over 3,100 shelter spaces.
- 90 new RCMP offi cers and 55 new sheriffs to be hired
across Alberta by 2013-14.
Investing in students and research
- 14 new k-12 schools will be opening their doors this year,
meaning 10,000 more children will be able to go to school
in their own neighbourhood.
- $34 million invested in k-12 students every school day.
- $200 million for student fi nancial assistance providing
for Alberta’s student debt management programs;
scholarships; bursaries and grants.
- $25 million to increase support for scientifi c research
through an expanded, more competitive tax credit.
Investing in world-leading resource stewardship
- $11 million to help deliver a comprehensive environmental
monitoring program in the oil sands region, to assure
Albertans we are developing our resources responsibly.
- $540 million over three years in Green TRIP funding
to make public transit more accessible and advance
Alberta’s leadership in reducing greenhouse gas
- $24 million to grow Alberta’s presence internationally to
ensure better market access for our products.
- $750,000 to fund the operation of the new research greenhouse facilities in Brooks, the Crop Diversification Centre – South.
Economic and Revenue Highlights Overview
- Every $1 drop in the price of oil over 12 months
= $223 million less revenue.
- Every 10-cent drop in the price of natural gas over
12 months = $28 million less revenue.
- Every 1-cent rise in the exchange rate over 12 months = $247 million less revenue.
- Note: resource revenue includes royalties from oil, natural gas/by-products, bitumen and land lease sales.
- Note: increases and decreases reflect changes between 2011-12 forecasts and Budget 2012.
Click here for the Economic and Revenue Highlights pdf version.
Alberta's Strong Economy
- Economic growth is expected to be 3.8% in 2012,
almost double the expected growth for the entire country.
- Employment growth in Alberta was 3.8% last year,
by far the highest rate in the country.
- Alberta accounted for about half of all new jobs created
in Canada over the past year and has one of the lowest
unemployment rates, averaging 5.5 per cent in 2011.
- In December 2011, a record of over 2 million Albertans
were working, up nearly 100,000 from the same time
the previous year. Almost all new jobs have been full time positions.
- Albertans continue to earn the highest wages in the
country, almost 20% above the national average.
- While Alberta has about 11% of Canada’s labour force,
Alberta hires and trains more than 20% of the country’s
- Alberta’s per capita infrastructure support is about
$1,500, 38% higher than the per capita average of what
other provinces have been spending.
- Investment in Alberta was over $70 billion in 2010,
approximately double the national average on a per capita
- Businesses sold over $87 billion in goods and
services to more than 180 countries around the world
- Albertans and Alberta businesses pay the least taxes
in the country and would pay at least $11 billion more
in taxes each year with any other provincial tax system.
- Alberta has the lowest overall corporate and small business tax burden in Canada – with the lowest fuel tax, no payroll tax, no capital tax and no sales tax.