Alberta Budget 2022 overview

The Alberta government released the Budget 2022 on February 24 which highlights building health-care system capacity, getting more Albertans working and “sticking to the fiscal plan”.

The UCP is boasting the fact they have presented a balanced budget with a forecast $500 million surplus for the fiscal year.

Investment in the capital plan has the northwestern part of the province in mind, specifically with:

$5 million for the dentition of the High Prairie Health Complex
$5 million for the La Crete Maternity and Community Health Centre and $41 million over the next 3 years
$50 million for the upcoming La Crete Bridge near Tompkins Landing and $135 million more over the next 3 years

Operating expenses will be increased for the following departments:

Health — $22 billion to $23.2 billion annually
Education (K-12) — $8.4 billion to $8.5 billion annually
Post-secondary Education — $5.4 billion to $5.6 billion annually
Social Services — $7.8 billion to $8 billion annually

Health

Making more space in hospitals is a priority for the province in Budget 2022, with $100 million per year going towards specifics like adding new intensive care unit beds and training new acute care staff.

Nearly $15.1 billion is allocated for Alberta Health Services operating expenses with an increase of $476 million from the year before.

A $750 million Covid-19 contingency fund is in the budget for continuation of covering pandemic related costs to address the surgical backlog.

Education

$191 million will go towards ensuring the new K-12 curriculum is implemented successfully.

Budget 2022 also has $30 million to help students with academic challenges associated with the pandemic, including mental well-being supports and another $80 million will be allocated over the next two years.

Energy and Economic Recovery

Oil prices are projected to stay at or near $70 per barrel and rebound back to 2014 levels for economic recovery.

The forecast for the 2022 calendar year has Alberta’s gross domestic product growing 5.4%.

Plans are in place to create jobs and reduce emissions while becoming an international leader in clean hydrogen production with the Clean Hydrogen Centre of Excellence getting $40 million in funding over the next four years.

Rising energy costs are addressed in Budget 2022, with plans to develop a rebate program if costs continue to trend upwards.

In the budget it reads:

Between the months of October 2022 and March 2023, natural gas consumers with less than 2,500 gigajoules (GJ) of annual natural gas consumption will receive a rebate when regulated natural gas companies charge regulated rates above $6 .50/GJ . Most households, small apartment buildings, farms, and small industrial and commercial businesses will be eligible under this program. Additional details will be made available prior to program launch.