High Oil And Gas Prices Send Alberta’s Budget Surplus Soaring

Higher oil and gas prices will lead to a surplus of some $10 billion (C$13.2 billion) for Alberta this fiscal year, Premier Jason Kenney said this week. When the budget for the year was introduced in February, the surplus for the year was expected to be less than half of that, at $391 million (C$511 million). Thanks to that surplus, the Alberta Premier said in a video, the provincial government will be re-indexing income taxes. He claims that the average person in Alberta would see a $300 benefit from that re-indexing. “Recognizing that our…