Latest news with #AlbertaBudget
CTV News
27-06-2025
- Business
- CTV News
Final budget numbers land: Alberta posts $8.3-billion surplus in 2024-25 fiscal year
The final numbers are in on last years' Alberta budget, and the bottom-line figure is an $8.3-billion surplus. That's $2.5 billion more than officials had expected to get. Finance Minister Nate Horner says the jump is because of more tax revenue from a growing population coupled with oil royalties that were higher than expected. Horner says just over $5 billion of the surplus is cash the province can spend, and the government will split it between its rainy-day Heritage Fund, paying down debt and savings. However, the good times are not expected to last. Horner's current budget for the fiscal year that began in April is expected to end next spring with a $5.2-billion deficit, with more multibillion-dollar deficits in the years after that. The province says the red ink is expected because of volatile oil prices, tax cuts and global events like the trade tariffs imposed by the United States. This report by The Canadian Press was first published June 27, 2025.
CBC
27-06-2025
- Business
- CBC
Alberta finance minister to deliver year-end fiscal update Friday
Social Sharing Alberta's finance minister is set to deliver the final bottom line number today on last year's provincial budget. Nate Horner's new figure will close the books on the budget for the fiscal year that ended in March. That budget was last forecast to come in with a nearly $6-billion surplus. Horner is expected to deliver his fiscal update Friday during a news conference at 1 p.m. MT. Into the red Alberta's new budget year is now a few months old, but its expected bottom line number is deep in the red. Horner introduced the budget for the 2025-26 fiscal year amid great financial uncertainty, just days before the U.S. tariffs were set to come into effect. The current budget, introduced by Horner in February, predicts Alberta will register a $5.2-billion deficit at the end of March 2026. At the time, Horner cautioned that Alberta's deficit could soar much higher, to an estimated $8.7 billion under a worst-case tariff scenario. It also predicts deficits will continue for years after that due to declining oil prices, tax cuts and global events including the trade levies imposed by the United States.
CTV News
27-06-2025
- Business
- CTV News
Alberta finance minister to deliver year-end fiscal update, $5.8B surplus forecasted
Alberta finance minister Nate Horner arrives to speak to the media at a news conference in Calgary, Thursday, June 29, 2023. (THE CANADIAN PRESS/Jeff McIntosh) Alberta's finance minister is set to deliver the final bottom line number today on last year's provincial budget. Nate Horner's new figure will close the books on the budget for the fiscal year that ended in March. That budget was last forecast to come in with a nearly $6-billion surplus. Alberta's new budget year is now a few months old, but its expected bottom line number is deep in the red. This budget, introduced by Horner in February, predicts Alberta will register a $5.2-billion deficit at the end of March 2026. It also predicts deficits will continue for years after that due to declining oil prices, tax cuts and global events like the trade tariffs imposed by the United States. This report by The Canadian Press was first published June 27, 2025. The Canadian Press
Globe and Mail
27-06-2025
- Business
- Globe and Mail
Alberta finance minister to deliver update on last year's budget, $5.8-billion surplus forecasted
Alberta's finance minister is set to deliver the final bottom line number today on last year's provincial budget. Nate Horner's new figure will close the books on the budget for the fiscal year that ended in March. That budget was last forecast to come in with a nearly $6-billion surplus. Alberta's new budget year is now a few months old, but its expected bottom line number is deep in the red. This budget, introduced by Horner in February, predicts Alberta will register a $5.2-billion deficit at the end of March 2026. It also predicts deficits will continue for years after that due to declining oil prices, tax cuts and global events like the trade tariffs imposed by the United States.
Yahoo
27-06-2025
- Business
- Yahoo
Alberta finance Minister to deliver year-end fiscal update, $5.8B surplus forecasted
CALGARY — Alberta's finance minister is set to deliver the final bottom line number today on last year's provincial budget. Nate Horner's new figure will close the books on the budget for the fiscal year that ended in March. That budget was last forecast to come in with a nearly $6-billion surplus. Alberta's new budget year is now a few months old, but its expected bottom line number is deep in the red. This budget, introduced by Horner in February, predicts Alberta will register a $5.2-billion deficit at the end of March 2026. It also predicts deficits will continue for years after that due to declining oil prices, tax cuts and global events like the trade tariffs imposed by the United States. This report by The Canadian Press was first published June 27, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
