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Macdonald-Laurier Institute

Alberta’s budget surprise — a genuinely prudent fiscal framework: Jack Mintz in the Financial Post

Federal Finance Minister Chrystia Freeland can take a lesson from Alberta.

March 3, 2023
in Columns, Domestic Policy Program, Economic policy, In the Media, Jack Mintz, Latest News
Reading Time: 2 mins read
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Alberta’s budget surprise — a genuinely prudent fiscal framework: Jack Mintz in the Financial Post

Photo by Alberta Newsroom, via Flickr.

This article originally appeared in the Financial Post. Below is an excerpt from the article.

By Jack Mintz, March 3, 2023

Pre-election budgets are rarely admirable. Money is spread around like pixie dust to curry the support of voters and to knee-cap opposition parties by borrowing their ideas. To a certain extent, the pre-election good news budget that Alberta Finance Minister Travis Toews delivered Tuesday follows this time-honoured political path, helped by $27.5 billion in oil and gas revenues in the 2022/23 fiscal year.

And so it is easy to chide the budget for populist policies like freezing insurance rates and capping post-secondary tuition fee increases at two per cent and for industrial policy measures for politically favoured industries (such as agricultural processing and film and television production). And there is the usual scattering of minor tax credits instead of a general cut in personal taxes — with no mention of a tax review geared to major reform, which the United Conservative Party proposed when it took office.

Yet Alberta’s pre-election budget contains one truly remarkable surprise: a tough fiscal framework that defies campaign convention and plays to the UCP’s political base. It has four supports:

***TO READ THE FULL ARTICLE, VISIT THE FINANCIAL POST HERE***

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Source: Financial Post
Tags: AlbertaFinancial PostJack Mintz
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