Alberta Budget 2022/23

The Alberta economy is showing some encouraging early signs of recovering from the shocks of the pandemic although there are continued risks that the recovery could be uneven and interrupted by future waves of COVID-19 or by changes to global market forces.

Economic Recovery

We urge governments to ensure flexible debt repayment schedules for businesses who accessed debt-supported response programs, such as the CEBA and BCAP, to ensure employers aren’t forced to shut their doors due to government debt repayment.

Responsible fiscal management

Given the impacts of the pandemic on government revenues, the Province should convene a similar panel to examine the opposite side of the ledger

Trade Diversification

As provincial and federal leaders continue to discuss measures to boost Canada’s economy, internal trade is a low-cost alternative to many more costly economic stimulus measures.

Innovation

To meet concerns that the grant does not adequately support scale-up efforts, consult with companies to ensure the grant supports not only research and development but also scale-up and commercialization activities.

Invest in a Low-Carbon Economy

Businesses can offer solutions to ensure that Canada continues to responsibly develop our natural resources and fight global climate change at the same time.

Capital Spending for Future Growth

Significant capital spending was used to help buoy the economy during the downturn, and the province realized relative savings by taking advantage of lower construction costs.

1. Economic Recovery

   1. Provide flexibility on debt repayments to support businesses once support programs end;
   2. The government should be ready to introduce and operate programs to support businesses, particularly small business, during the most recent Omicron wave to assist with staff shortages and reduced traffic;
   3. Continue to work with federal and municipal governments to ensure that families benefit from affordable, accessible and high-quality early learning and child care as soon as possible and target benefits to those families who are most in need of assistance;
   4. Continue to invest in operational funding for emergency shelter spaces; and
   5. Ensure stable, ongoing investment in skills training and post-secondary institutions.

    

   Responsible fiscal management

   1. Align spending with core government priorities, including a full and transparent review of all government programs and services to eliminate under-used or inefficient services;
   2. Appoint an independent panel of experts to review Alberta’s revenue sources, including a review looking and current and new sources of revenue;
   3. Publish a rolling annual report on the long-term fiscal health of the province reaching at least 20 years into the future, including enduring performance measures and tracking. This should include:
      1. information about expected demographic changes that will impact on the economy and/or the provision of government services.
      2. information about significant projected changes related to Alberta’s major industries, and in the Canadian economy as a whole.

    

   Trade Diversification

   1. Aggressively dismantle internal trade barriers and bolster interprovincial supply chains to promote local economies;
   2. Facilitate international market access through enabling infrastructure development and increasing export promotion to diversify Alberta markets and provide stability and opportunities for growth; and
   3. Set specific, measurable and commercially sustainable diversification targets that include performance objectives and transparent reporting.

    

   Innovation

   12. Ensure the Innovation Employment Grant supports not only research and development but also scale-up and commercialization activities; and
   1. Develop and execute an Intellectual Property Strategy to accelerate commercialization of Alberta’s IP including post-secondary institutions and entrepreneurs.

    

    

   Invest in a Low-Carbon Economy

   1. Publicly support Alberta’s continued position as an energy leader that will play a key role in the transition towards the low-carbon economy of the future;
   2. Reinvest carbon tax funds directly into innovation to leverage and advance innovation in the private sector; and
   3. Continue to support industry-sponsored technology solutions and push the regulatory bodies to expedite new standard adaptations that reduce Alberta’s emissions and could be exported to reduce emissions globally.

    

   Capital Spending for Future Growth

   1. Prepare for Alberta’s continued growth by strategically investing in growth-enabling infrastructure and work with industry to enable 100% of businesses, homes, ranches and farms in Alberta to have access to high-speed internet by 2025; and,
   2. Work with service providers and the federal government to invest in infrastructure projects for permanent supportive housing and centres of community, to assist those in need of housing and enhance community vibrancy and support changes to streamline the development process.