With the provincial government set to release their budget next week, Alberta Premier Danielle Smith made a televised address last night signaling that there will be some fiscal restraint in said budget.
Smith says that they will trim spending and embark on an ambitious plan to grow the Heritage Savings Trust Fund by billions in an attempt to forever wean the province off resource revenue by 2050.
In short, Smith said the province must, in the long-term, get off the rollercoaster ride that is relying on oil and gas prices.
She also said anticipated personal income tax cuts will be delayed by a year “and be phased in responsibly,” and that it’s now time for the province to implement a long-term financial plan that delivers a balanced budget “each and every year with predictable and stable revenues to fund our core social programs.”
Smith’s UCP government is scheduled to present its budget on February 29.
– Kyle Moore, Trending 55 Newsroom
