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Introduction
The 2024-25 Alberta budget, titled A Responsible Plan for a Growing Province, covers finances from April 1, 2024 until March 31, 2025. This is the sixth budget of the governing United Conservative Party (UCP) as they enter their second term in government. This budget seeks to address the challenges a growing province faces while ensuring a sustainable future for the next generation.
This budget is in line with the government’s fiscal framework introduced in 2023, which prioritizes a balanced budget, controlled spending, and using surplus revenue to pay off debt and save for the future.
As with previous budgets, Budget 2024 boasts low taxation, which limits important investments in public services that support Albertans. If Alberta had the same tax structure as the next lowest taxed province (British Columbia), the government would generate an additional $19.0 billion in revenue (2024-25).*
The 2024 Budget also contains investments into the Alberta Heritage Savings Trust Fund, with the government committing to depositing an additional $2 billion into the fund, increasing the value of the Heritage Savings Trust Fund to a forecast $25 billion.
This fACT Sheet will focus on developments related to social programming that impact those living in low-income and poverty. Investments that positively impact marginalized populations result in long-term savings in other public services, such as health care and the criminal justice system, and increase the overall well-being of our communities.
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