Alberta has recorded an $8.3 billion surplus, according to Finance Minister Nate Horner’s recent financial update.
It is $8 billion more than the provincial government expected, and was due to oil and gas revenue for 2024/2025, as well as more tax revenue from the province’s growing population, Horner said at a June 27 news conference.
He said it was Alberta’s fourth consecutive surplus in as many years.
“Personal income tax revenue was a record $16.1 billion, or $516 million higher than budget, driven by strong growth in personal incomes and population,” he said. “Corporate income tax revenue was $8.1 billion, up $1.1 billion from budget due to strong corporate profits in sectors such as oil and gas, construction, and finance.”…