Federal budget gets mixed reaction in Alberta

Billions in new spending, yet very few surprises. After a slew of pre budget announcements around new money for housing, this budget seems to be very focused on housing and together with that they seem to be interested in investing in the infrastructure that’s needed for communities to grow. Details are still scarce, but the feds are announcing a parcel of land in Curry that will be unlocked for housing providers to build up to 100 new affordable housing units. As 60 people move to Calgary every single day. There are people who have lived in the city for a long time that are struggling with affordability. With housing, So we need to make sure that this federal budget is focused on everyone. The provincial government is raising several concerns with the federal plan, with billions in new spending and increases to taxes on capital gains and no path to a balanced budget over the next five years. This budget overspends over taxes, over regulates and will harm productivity, affordability and economic growth. Premier Daniel Smith echoing that sentiment, urging the feds to stay in their lane. Fact, if they just stop trying to be premiers and stop trying to dictate to the provinces what to do, they probably have enough money. To take care of their areas of jurisdiction. There’s certainly lots of good things in this budget, but they do come at a very high price. Calgary business community also unpacking the budget encouraged by the housing plans and the Indigenous loan guarantee program set to include oil and gas projects. Small businesses will also get a Canada carbon rebate, which the Chamber of Commerce says will help offset the cost of going green. But it’s still too early to tell the impact they’ll have. We know there’s a lot of goodies in this budget and we’re still working with our business community to figure out whether they’re sprinkling across a whole bunch of different sectors or if they will actually have meaningful impact. And there is concern about how the tax increase will impact investment. Back at City Hall, the mayor says the budget missed the mark on one thing, a more permanent solution to how the feds fund municipalities. Something that we’ve been asking for for some time. Now, Alberta’s finance minister said he couldn’t provide more detail on another impact to Alberta around family court judges. There was originally federal funding for 17 family court judges in Alberta. That money is being reallocated to provincial superior courts with quote capacity issues. The budget says Alberta didn’t use that funding and it is going elsewhere.