Alberta Budget maintains “Alberta Advantage”
+ With any other tax system Albertans and Alberta businesses would pay at least $11 billion more in taxes each year.
+ Albertans have:
1. higher basic personal exemptions
2. lower tax rates, both personal and business
3. No retail sales tax
4. No health care premiums
+ Retail sales tax and health care premiums would represent approximately $5 – $6 billion in revenues.
+ Alberta receives $558 per person in health transfers from the Federal Government while every other province receives $805 per person.
+ Bitumen royalties are forecast to climb to $4.1 billion this year and to over $7 billion by 2013-2014. This is based primarily on more production
+ 75% of our expenditures are on health care, education, advanced education and seniors.
+ Capital infrastructure spending of approximately $6 billion per year will continue over the next 3 years focused on roads, schools, and hospitals.
Sensitivities to Assumptions – Fiscal Year 2011-2012