Alberta Finance Minister Nate Horner addresses the Calgary Chamber of Commerce today to promote the province’s 2026 budget, which features substantial spending alongside a projected deficit exceeding $9 billion.

Budget Overview

Horner presented the budget in the Alberta legislature yesterday, emphasizing the need to sustain spending amid challenges from rapid population growth and subdued oil prices. The plan forecasts a $9.4 billion deficit for the 2026 fiscal year, followed by $7.6 billion and $6.9 billion in the subsequent two years.

Tax Increases and Revenue Measures

The budget introduces higher fees and levies, projected to raise $360 million this year. A notable change is the education property tax hike, adding $340 annually for typical Calgary homeowners and $154 for those in Edmonton.

Diverse Reactions from Leaders

Calgary Mayor Jeromy Farkas criticizes the sharp rise in education property taxes for residents. In contrast, Edmonton Mayor Andrew Knack acknowledges the necessity of the increase to adequately fund schools.

Opposition New Democrats accuse Premier Danielle Smith’s United Conservative government of economic mismanagement, squandering prior oil boom revenues, and burdening future generations with massive debt.

Horner’s speech occurs at 12:30 p.m. today at the Calgary Chamber of Commerce.