CALGARY — The Government of Alberta’s 2021-22 Annual Report released today reveals a $3.9 billion surplus for the fiscal year, making this the first surplus in Alberta since 2014.
“It was a privilege to serve Albertans as finance minister over the last three years, putting Alberta’s fiscal house in order and setting our province on a strong path for the future,” said Travis Toews, United Conservative Party (UCP) leadership candidate and former finance minister. “Balanced budgets don’t happen by accident – it takes hard work and a commitment to sound fiscal principles. We cannot continue to burden our children and grandchildren with a debt that they did not incur.”
Other highlights from the Annual Report include a confirmation that Alberta has made significant progress in bringing spending in line with other comparable provinces and remains the lowest-taxed jurisdiction in Canada. The Alberta government is also well ahead of schedule in reducing burdensome red tape by one-third, as promised in the 2019 election.
Toews, the architect of this surplus budget, also presided over Alberta’s first credit upgrade in over a decade as a result of his steadfast commitment to sound fiscal management and to the fiscal anchors that helped bring us this far. As leader of the UCP and Premier, he will work to bolster Alberta’s savings and to pay down the debt in a measured, responsible way so that future generations are not left paying for our mistakes.
“Albertans value fiscal responsibility and I know that this achievement of a balanced budget will come as welcome news to many,” added Toews. “If I have the privilege to be selected as the next leader of our party, I will ensure that these values remain at the heart of everything we do.”
