Alberta Expecting Budget to Be Restrained but With Few Cuts

Albertans have been told to expect financial restraint in today’s provincial budget. Premier Danielle Smith signalled a turn to less spending and more saving in a televised address last week. Ms. Smith said she has told Finance Minister Nate Horner to keep spending increases beneath the rate of inflation and population growth. She said she expected that could be done without major spending cuts or new taxes. The province’s Opposition NDP has said the premier’s direction already amounts to a spending cut in a province that grew by more than four percent last year. The average price of oil in 2023 came in more than a dollar below provincial forecasts, with each dollar drop representing about $600 million in royalties....