Alberta’s deficit is getting smaller with each passing quarter. Finance Minister Travis Toews gave Albertans a full update on the state of our province’s books and it is very encouraging. When the budget was tabled earlier this year, Minister Toews forecasted a deficit above $18 billion.
Today, the projected deficit for the 2021-22 fiscal year is now at $5.8 billion. That comes out to a little over a third of the deficit that was expected when the budget was first tabled. Going back to August, when Albertans were updated on the first quarter, the deficit was expected to be at $7.8 billion. A major reason for higher revenues is rising energy prices. Both oil and gas, as well as renewable sources are seeing higher prices. Non-renewable resource revenue is currently forecasted at $10.8 billion, which is $8.1 billion more than originally expected.
Expenses increased at a smaller rate than revenues, by $1.8 billion. Around $1.4 billion of this is a provision for potential crop insurance indemnities. Some of our farmers have had to deal with harsh drought conditions. As the MLA for the Camrose Constituency, I advocated for support which our government was happy to provide to those Alberta’s farmers and ranchers who were affected by the devastating weather conditions. There was also some money devoted to helping businesses during the pandemic.
We also learned that since the start of the year, 103,000 new jobs have been created. Programs, such as Jobs Now, are helping business owners hire and train employees. What is most exciting is that we are not even close to the peak. According to Canada’s major banks and financial institutions, Alberta is expected to lead Canada in economic growth and job creation in 2022.
I was also honoured to be chosen by the Premier to be the Parliamentary Secretary to the Associate Minister of the Status of Women. In this new role I will work to provide how government can best support elder women on aging in place, personal finances, estate planning and life events like the death of a spouse, divorce, or health crisis.
One announcement I am particularly excited about is the Women’s Economic Recovery Challenge Grant. Grants are open to non-profit groups, including community organizations, municipalities, First Nation and Métis communities, industry associations and economic development organizations.
Eligible non-profits can apply for up to $250,000 in funding in these focus areas:
• Increasing the representation of women and girls in STEM.
• Increasing female entrepreneurship.
• Decreasing the challenges women face in the workplace.
• Helping women transition to a new career, supporting inclusive employer training and updating employment skills.
We all win when more women are participating in our economic recovery.
I also wanted to touch on something I have been raising awareness on, Noah’s Law. Many of you know the story of former Camrose residents, Mchale Busch and her toddler Noah who were murdered by a registered sex offender living in their Hinton apartment complex. As a provincial MLA, I can help Cody, his family and friends by drawing attention to the work they are doing.
Yellowhead MP Gerald Soroka is putting forward a private member’s bill to make the National Sex Offender Registry Database publicly accessible. There is a new petition coming out that will require our support. I will continue to work with Cody to help our community know when the updated petition is available to be signed. Please head to justiceformchaleandnoah.ca for more information.