Alberta finance minister to outline budget plan in Calgary amid $9.4B deficit

Alberta’s finance minister is in Calgary today to promote the province’s newly tabled budget, which projects a $9.4 billion deficit as the government ramps up spending in key sectors.

Finance Minister Nate Horner is scheduled to meet with business leaders at the Calgary Chamber of Commerce to discuss the fiscal plan and the economic outlook. The budget, introduced Thursday, outlines increased funding for health care and education while acknowledging pressure from lower oil revenues and rapid population growth.

Horner has said the province must maintain public spending to support services during economic uncertainty. Alberta’s finances remain closely tied to energy prices, and weaker oil markets have reduced revenue forecasts compared with recent boom years.

The Opposition NDP has criticized Premier Danielle Smith and her United Conservative Party government, arguing that past resource windfalls were not adequately saved and that the new deficit will increase long term debt. The government maintains that continued investment is necessary to meet the demands of a growing population.

Reaction from stakeholders has been mixed. The Alberta Medical Association said a nearly six per cent increase in health care spending is a positive step, while the Alberta Teachers' Association called on the province to ensure promised classroom funding is delivered. Calgary Mayor Jeromy Farkas raised concerns about rising education property taxes, whereas Edmonton Mayor Andrew Knack said the increase is necessary to properly fund schools.

The deficit and spending commitments are expected to be central to debate at the legislature in the coming weeks, as the government defends its approach to managing Alberta’s resource driven economy.