Western Standard - February 26, 2026


Alberta Budget 2026 Announcement

Topics
health care investment
Mentioned
Speaker Honour Horner
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Episode Stats


Length

26 minutes

Words per minute

102.21

Word count

2,686

Sentence count

162


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Learn English with the Honourable Lieutenant Governor and Minister of Finance, Ms. Selinger. Budget 2026 is presented to the Alberta Legislative Assembly by the Honorable Speaker of the Assembly, Mr. Dougald on behalf of the Government of Alberta.

Transcript

Transcript generated with Whisper (turbo).
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00 We'll be right back.
00:00:30 Thank you.
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00:05:30 Welcome to the right page here.
00:05:55 Messages from Her Honour, the Honourable, the Lieutenant Governor.
00:06:00 Mr. Speaker, I have received certain messages from Her Honour, the Honourable Lieutenant
00:06:27 governor, which I now transmit to you.
00:06:57 The Lieutenant Governor transmits estimates of certain sums required by the offices of the Legislative Assembly for the service of the province for the fiscal year ending March 31st, 2027, and recommends the same to the Legislative Assembly.
00:07:14 The Lieutenant Governor transmits estimates of certain sums required by the government for the service of the province for the fiscal year ending March 31st, 2027, and recommends the same to the Legislative Assembly.
00:07:28 Please be seated.
00:07:35 The Honorable President of Treasury Board and Minister of Finance.
00:07:39 Mr. Speaker, I wish to table the 2026-2027 Offices of the Legislative Assembly estimates
00:07:47 and the 2026-2027 Government estimates.
00:07:52 In addition, I also wish to table the 2026-2029 Government of Alberta Strategic Plan
00:07:58 and the Budget 2026 Ministry Plans.
00:08:09 Government motions. Motion number 30. Honourable Mr. Horner.
00:08:15 I now wish to table the government's 2026 through 2029 fiscal plan and move government
00:08:22 motion 30, be it resolved, that the Assembly approve in general the business plans and
00:08:27 fiscal policies of the government.
00:08:37 Honourable Minister of Finance and President of Treasury.
00:08:43 Thank you, Mr. Speaker.
00:08:45 It is an honour to rise in the Assembly and present Budget 2026.
00:08:51 While I wish I could stand before you under better circumstances, I am still honoured
00:08:55 to rise and present my third budget on behalf of Alberta's government. With all that said,
00:09:02 let's cut to the chase. If this budget is passed, Alberta will face a deficit of $9.4
00:09:07 billion this fiscal year. That's the reality in front of us. Albertans deserve to hear
00:09:14 that first, not last, not softened or buried under technical language. Budget 2026 carries
00:09:21 a substantial deficit, one that is significantly higher than projected last year. With this
00:09:27 shift, it's clear this year will require tough choices. Some of them won't be popular, but
00:09:34 all of them will be necessary to face the challenges ahead. I also want to be very clear
00:09:40 that yes, Alberta is running a considerable deficit this year, but we're not making massive
00:09:45 program cuts and we're not raising personal income taxes. Yes, that personal income tax
00:09:50 cut you received last year it stays and albertans will see those savings reflected on their paychecks
00:09:56 again this year because we're not choosing to take the hit we because we are choosing to take
00:10:01 the hit on our books rather than put that strain on alberta's households budget 2026 secures the
00:10:08 promises we made to albertans despite the challenges we know many provinces are facing
00:10:14 deep deficits and we'll have to make hard choices alberta's choosing discipline responsible spending
00:10:20 decisions and hard work over the long haul to get back on track. Here in Alberta we don't just hope
00:10:26 for another boom. We don't panic in the downturns. We are steadfast in our resolve to protect Alberta's
00:10:33 future. With Budget 2026 we're choosing to focus on health care, classrooms and the economy.
00:10:40 We're choosing to protect the services families rely on every day and we're choosing to protect
00:10:46 Alberta's long-term financial strength, so the next generation will have more
00:10:50 options to deal with their tough choices. Costs are higher, global markets are
00:10:57 unstable, and our population has grown faster than any other province in Canada.
00:11:02 Global pressures are testing every energy producing economy and ours is no
00:11:07 exception. Albertans already know this. They see costs go up everywhere. They live
00:11:13 this reality every day. But Albertans expect their government to stand firm
00:11:17 when times are tough and that's exactly what we intend to do. We all know the
00:11:23 geopolitical landscape is shifting, trade tensions are rising, oil prices are weak
00:11:29 and competition for investment is getting tougher. Despite these challenges
00:11:35 Alberta remains the best place to live, work and raise a family. Record numbers
00:11:41 of people have moved here to build better lives.
00:11:44 But that record growth has put real pressure on our housing, schools, hospitals, roads
00:11:49 and public services.
00:11:51 And unlike population booms in the past, where economic growth in Alberta drew people in,
00:11:57 this time cost of living pressures in other provinces are pushing people out to come here.
00:12:04 The practical effect is that the demand for service is rising faster than government revenue
00:12:08 is growing.
00:12:10 Resource revenue is volatile, federal policies have led to lost investment opportunity, global
00:12:17 market shifts add uncertainty, and inflation and trade roadblocks have driven up the cost
00:12:23 of delivering critical infrastructure and services.
00:12:27 These are all major factors behind the deficit we are facing today, but they're not the only
00:12:32 factors.
00:12:33 Alberta continues to make record investments in core services to meet the challenges of
00:12:38 today because ignoring the real pressures in health care education and infrastructure would
00:12:43 cost albertans far more than just dollars and cents it would cost us opportunity stability
00:12:50 and our collective confidence in the future that's why with budget 2026 we are focused on
00:12:57 what matters because we are putting albertans priorities first and shaping a brighter more
00:13:02 secure future we took a hard look at where our efforts could make the biggest difference and
00:13:08 we made the tough calls where needed we focused on maintaining the projects and programs that
00:13:14 truly serve albertans we set a reasonable wti projection at 60.50 per barrel we limited program
00:13:22 spending increases with clear reasonable targets and we cut red tape and streamlined government
00:13:28 processes, so every dollar spent counts. In fact, Alberta continues to be the best province
00:13:35 in Canada at cutting red tape, slashing more than 220,000 government inefficiencies since
00:13:40 2019. This has saved Alberta businesses, job creators, and industry more than $3 billion,
00:13:47 allowing them to provide more for our communities while driving economic growth and opportunity.
00:13:53 It's our responsibility to protect what matters most, not by undermining our competitive
00:13:58 advantage, but by growing our economy, expanding markets, attracting investment
00:14:03 and creating wealth. Alberta's low-tax environment is something to be proud of.
00:14:08 It reflects who we are as Albertans and our entrepreneurial spirit. It lets
00:14:14 Albertans keep more of what they earn, take risks and build opportunity for
00:14:19 themselves and their communities. We will protect the Alberta advantage, make smart
00:14:24 choices and spend where it matters for Albertans. Mr. Speaker, sometimes the hardest decisions are
00:14:30 not where to cut, but where to invest. That's why Budget 2026 focuses on investing in what matters.
00:14:38 In Alberta, we know health care, education, and our vital services should always come first.
00:14:43 Through Budget 2026, Alberta's government is making one of the most significant health care
00:14:48 investments in our history. In Budget 2026, total health care investment is $34.4 billion.
00:14:55 This includes $13.8 billion in 2627 to operate and expand hospitals, surgeries, emergency services
00:15:03 and diagnostics. Budget 2026 provides the following. Almost $2.5 billion over three years
00:15:11 for emergency health services, a record total $7.7 billion commitment to our physicians,
00:15:18 $525 million over three years to complete 50,000 additional surgeries through the Alberta Surgical
00:15:24 Initiative, and $223 million over three years to expand cancer care capacity, hire specialists,
00:15:32 and upgrade treatment facilities. In Alberta, people expect care to be there when they need it
00:15:37 without uncertainty or delay.
00:15:40 Health care enables Albertans to work,
00:15:42 raise their families, and plan for their futures.
00:15:46 And when something is that foundational to our lives and livelihoods,
00:15:50 we protect it with everything we've got.
00:15:53 But caring for Albertans isn't just about hospitals.
00:15:56 It's about classrooms, educators,
00:15:59 and giving every child their best shot at success.
00:16:02 Alberta is seeing record student enrollment,
00:16:05 and that growth is putting real pressure on classrooms, teachers and families across the province.
00:16:12 Budget 2026 commits a record $10.8 billion in 2026-2027 in education
00:16:18 focused on the best outcomes for our students and classrooms.
00:16:23 Budget 2026 provides funding for school boards to hire more than 3,000 new teachers
00:16:28 and 1,500 new educational assistants over the next three years
00:16:32 and $1.4 billion over three years to address class size and complexity
00:16:37 because a growing population without adding classrooms is unsustainable
00:16:42 and Alberta kids deserve nothing but our best.
00:16:46 Of course, none of these services exist without the people who deliver them.
00:16:51 Budget 2026 puts money in the workforce that keeps Alberta running
00:16:55 and the more than 250,000 public servants, including nurses, teachers and paramedics, on the front line.
00:17:02 Competitive wages aren't just about labour relations, they're about service delivery.
00:17:07 That's why Budget 2026 commits almost $38 billion in public sector compensation.
00:17:14 And for context, that's 54% of the operating budget of government.
00:17:21 Because strong services require a strong public sector.
00:17:25 And we are choosing to strengthen our public service through Budget 2026.
00:17:29 But it's not just the public sector we're investing in.
00:17:34 Budget 2026 continues to prioritize workforce development, trades training, and youth employment across Alberta in industries big and small.
00:17:43 This includes a $20 million commitment over three years for the Youth Employment Incentive, connecting young Albertans to real job opportunities.
00:17:52 We're also investing in economic diversification and investment attraction,
00:17:57 such as data centers, investment incentives, and expanding pathways to get more of our products to market.
00:18:03 Because economic growth means more people working, more businesses hiring,
00:18:07 and more opportunity for families to move forward without higher taxes.
00:18:12 Alberta does not grow by standing still.
00:18:14 We grow by building, by producing, by competing on the global stage.
00:18:19 budget 2026 doesn't just invest in our services our people and our world-class resources
00:18:25 it invests in the physical foundation we build our success on that's why this budget is also
00:18:31 focused on building what matters budget 2026 commits 28.3 billion in capital investment
00:18:38 strengthening the foundation alberta families workers and communities depend on
00:18:42 because we're not just building projects we're building the backbone of our province that means
00:18:48 investing in modern hospitals and health facilities so families can access care when and where
00:18:53 they need it, including investments in diagnostic imaging services across the province, schools
00:19:00 and post-secondary spaces that prepare the next generation for real opportunity, including
00:19:05 our $600 million investment in modular classrooms to address immediate enrollment needs and
00:19:10 the $384 million investment in the NAIT Advanced Skills Centre, and continued progress through
00:19:16 the school's NOW program, fast-tracking, planning, design, construction, and renovation of 161
00:19:22 schools across Alberta, including funding for planning and design of 40 new school projects
00:19:29 in communities across the province, including Calgary and Edmonton. The capital plan also
00:19:35 includes transportation corridors that move goods, connect communities, and drive economic growth,
00:19:40 water systems and municipal infrastructure that support growing cities and rural communities,
00:19:44 rural connectivity and essential maintenance that keep communities strong and competitive
00:19:49 and critical projects that support long-term growth across the province.
00:19:54 Because infrastructure is not optional, it's our economic capacity, it's our ability to grow
00:19:59 and it's the bedrock that supports every Albertan's quality of life.
00:20:03 It is not lost on us that all of this spending is significant spending.
00:20:09 Albertans expect discipline from their government and these are large dollar figures on the table.
00:20:14 However, our government is committed to making every dollar count.
00:20:18 This includes program review and efficiency measures, debt management and responsible borrowing,
00:20:24 and protecting the Heritage Fund so our kids and grandkids inherit security,
00:20:29 not the unpredictability of Alberta's boom and bust cycles.
00:20:33 This will maintain Alberta's fiscal advantage compared to the other provinces.
00:20:37 Protecting the Heritage Fund isn't just about savings.
00:20:39 It's part of our clear three-point plan to secure Alberta's future in the short, medium, and long term.
00:20:45 As mentioned for our long-term plan, our government is growing the Alberta Heritage Savings Trust Fund to more than $250 billion by 2050.
00:20:53 Since 2019, the Heritage Fund has almost doubled.
00:20:57 By directing a share of our surplus cash into the fund, and most importantly by reinvesting our earnings, we've strengthened the Heritage Fund significantly.
00:21:05 And the good news is that simply by continuing to reinvest those earnings over the next 24 years, the fund is on track to reach our 2050 target without requiring additional deposits.
00:21:17 By staying the course, we will create a permanent source of annual investment income capable of stabilizing Alberta's finances through future downturns.
00:21:25 The median term is just as important. Our goal is for Alberta to double oil production and exports by 2035.
00:21:32 We are advancing agreements to add 1.3 million barrels per day of new pipeline capacity to the west coast,
00:21:39 expanding export capacity south, and increasing shipments to Canadian refineries.
00:21:44 More customers mean stronger and more predictable resource revenues, even when global prices soften.
00:21:50 Finally, the third pillar reflects our short-term plan.
00:21:53 Albertans are feeling immediate pressure on housing, health care, schools, and infrastructure.
00:21:57 That's why on October 19th, 2026, our government will ask Albertans directly, through a provincial referendum, how they would like us to manage population growth to ensure our services remain sustainable and can keep pace.
00:22:11 Save for the future, grow our exports by acting decisively today.
00:22:15 That is Alberta's path forward, practical, disciplined and built for long-term strength.
00:22:20 This will ensure we're prepared for what comes next, no matter how global markets or political winds shift beyond our borders.
00:22:27 Even as we make these careful choices, Alberta's foundation remains strong.
00:22:33 Our economy continues to generate opportunity and our people continue to drive growth.
00:22:38 Even in deficit years, Alberta remains in the strongest fiscal position in Canada.
00:22:42 Alberta's economy continues to lead the country.
00:22:45 We maintain the lowest overall tax burden for Albertans, the strongest GDP per capita and high weekly earnings.
00:22:52 Last month alone, Alberta generated more jobs than every other province combined.
00:22:56 and that's not luck, that's discipline. When a tough season hits, Albertans never throw in the
00:23:02 towel. We dig in, we make adjustments, we look after our people, work even harder and prepare
00:23:07 for the next season. That's what this budget does. It doesn't pretend things are easy. It doesn't
00:23:12 ignore the pressures Albertans are under. It keeps our province steady and moving forward.
00:23:17 Albertans are not afraid of hard years. They understand that some seasons are about building,
00:23:22 some seasons are about protecting, and some seasons are about preparing for what comes next.
00:23:28 This is a time for discipline, for frank, honest discussion, for steady leadership.
00:23:33 We're protecting the services families depend on, we're investing in the people who make this province work,
00:23:38 and we're protecting Alberta's long-term strength.
00:23:41 The road ahead will be challenging to navigate, but Albertans have never needed easy to succeed.
00:23:46 This province was built by people who faced the hard trail ahead and never backed down.
00:23:52 They broke ground, laid the path, and left it better for the next generation.
00:23:57 The same strength that built Alberta will carry us through whatever comes next.
00:24:00 If we stay focused on what matters, if we stay disciplined, and if we face these challenges together, Alberta's best days are still ahead.
00:24:08 That's the future we're building, and it's worth the work.
00:24:12 Thank you, Mr. Speaker.
00:24:22 the official opposition host there thank you mr. speaker there is lots to unpack in this budget
00:24:40 but for today i move that we adjourn debate on the budget having heard the motion as proposed
00:24:47 by the official opposition the house leader to adjourn debate all those in favor please say aye
00:24:55 those opposed please say no the ayes have it that motion is carried uh the honorable deputy
00:25:03 government house leader or the government house leader thank you mr speaker uh thank you to the
00:25:10 minister of finance and present treasury board for delivering those remarks but at this time
00:25:14 I move that the Assembly be adjourned until 1.30 p.m. on Monday, March 9th, 2026.
00:25:22 The Honourable Government House Leader has moved the Assembly adjourned until Monday, March 9th at 1.30 p.m.
00:25:27 Those members in favour of the motion, please say aye.
00:25:29 Aye.
00:25:30 Those opposed, please say no.
00:25:32 The ayes have it. The House stands adjourned until 1.30 p.m. March 9th.
00:25:38 Call rise, please.
00:25:44 Thank you.
00:26:14 You