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Pandemic spending, no tax increases: Some highlights from the Alberta budget

EDMONTON — Alberta's United Conservative government tabled its budget Thursday. Here are some of the highlights: — No new taxes or tax increases. — Deficit of $18.2 billion on estimated revenues of $43.7 billion. — Spending of $57.
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EDMONTON — Alberta's United Conservative government tabled its budget Thursday. Here are some of the highlights:

No new taxes or tax increases.

Deficit of $18.2 billion on estimated revenues of $43.7 billion.

Spending of $57.3 billion before expenditures on COVID-19 and cancelled crude-by-rail      contracts.

Spending on COVID-19 to be $1.1 billion. An extra $1.8 billion as needed.

Taxpayer-supported debt of almost $116 billion by March 2022. Annual debt interest      charges almost $3 billion.

Capital spending to be $20.7 billion over three years.

Heritage Savings Trust Fund pegged to reach $16.7 billion.

Personal income tax to generate an estimated $11.6 billion.

Corporate income tax estimated to be $1.9 billion.

Cannabis tax to come in at $105 million.

Public sector compensation, excluding physicians, set at $21.5 billion. To fall to $20.8 billion by 2024. 

Compensation for doctors to remain steady from $5.2 billion now to $5.3 billion by 2024. 

$3.1 billion to diversify economy and expand aviation, tech, pharmaceutical and tourism sectors. 

This report by The Canadian Press was first published Feb. 25, 2021. 

The Canadian Press