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Edmonton, AB — The Alberta Chambers of Commerce (ACC) acknowledges the Government of Alberta’s fiscal update, which projects a $4.6 billion surplus for the 2024-25 fiscal year. This strong fiscal position reflects Alberta’s disciplined financial management and presents a unique opportunity to address key business and community priorities.
“This surplus demonstrates the rewards of fiscal discipline and resource revenue management,” says Shauna Feth, President and CEO of the ACC. “We urge the government to leverage this moment to strategically invest in Alberta’s competitiveness and long-term sustainability.”
Key Recommendations
Debt Reduction: Reducing Alberta’s $84 billion taxpayer-supported debt enhances fiscal resilience and aligns with priorities identified by Alberta Perspectives 2024 research, where 85% of businesses and 74% of consumers supported a focus on financial stability.
Workforce Development: Investments in health care, including $716 million for physician incentives, address workforce gaps in critical sectors and lay the foundation for sustainable economic growth.
Revenue Diversification: Expanding industries like hydrogen, renewables, and agriculture technology (AgTech) could generate $50 billion in market opportunities by 2050 and $2.2 billion in annual GDP growth by 2030.
Regulatory Efficiency: Streamlining processes and modernizing compliance systems reduces costs for businesses, a priority for 55% of Alberta businesses (Alberta Perspectives 2024).
Infrastructure Investments: Modernizing trade corridors and expanding rural broadband enable businesses to grow, particularly in regions critical to Alberta’s $150 billion annual trade with the U.S.
“Alberta’s fiscal health gives us a unique opportunity to address business and community priorities,” says Feth. “By reducing debt and investing strategically, Alberta can secure a resilient, competitive, and prosperous future for all.”
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