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Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
Budget 2014 - The Building Alberta Plan
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Budget 2014 - The Building Alberta Plan

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Budget 2014 - The Building Alberta Plan - presentation by Doug Horner, President of Treasury Board and Minister of Finance - March 6, 2014. You may also download this presentation as PowerPoint or PDF …

Budget 2014 - The Building Alberta Plan - presentation by Doug Horner, President of Treasury Board and Minister of Finance - March 6, 2014. You may also download this presentation as PowerPoint or PDF at this address: http://finance.alberta.ca/publications/budget/budget2014/index.html#presentation

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Transcript

  • 1. Budget 2014 March 6, 2014
  • 2. Fully balanced budget Operational surplus $2.6 B Operational revenue $43.0 B (up 5.4% from 2013-14) Operational expense $40.4 B (up 3.7% from 2013-14; excludes disaster/emergency assistance) Change in net assets (consolidated surplus) $1.1 B increase
  • 3. Economic strength Real Gross Domestic Product (GDP) Growth 0 1 2 3 4 5 6 Year-over-year%change Alberta Canada USA 5.2 3.8 3.3 3.7
  • 4. Economic strength Unemployment rate, 2013 0 1 2 3 4 5 6 7 8 Canadian average Alberta 4.6 % 7.1 %
  • 5. Oil price differential 50 60 70 80 90 100 110$ WTI WCS $15 $33 $10 $37
  • 6. 2013 Flood $1.1 B in provincial support over next 3 years • $222 M operational expense • $859 M on capital Money to help people and businesses for reconstruction and mitigation
  • 7. Booming population
  • 8. Priority spending
  • 9. Investing in families and communities 2014/15: $1 B increase to core programs • New operating funding for: • Health • K-12 schools • Post-secondary education • Human services
  • 10. Comparing expense growth to population plus inflation growth
  • 11. Building Alberta Increasing net assets
  • 12. Building Alberta Estimated Assets and Liabilities, March 31, 2015 Alberta is the only province in Canada with net assets ($45 B)
  • 13. The 4 rules of borrowing Limited to 3.0% of operational revenue Must have a clear repayment plan Must protect Alberta’s AAA credit rating Borrowing only for the capital plan
  • 14. A plan for debt repayment Annual amounts set aside for debt repayment 0 200 400 600 800 1,000 1,200 13/14 15/16 17/18 19/20 21/22 23/24 25/26 27/28 29/30 31/32 33/34 35/36 37/38 39/40 41/42 43/44 45/46 47/48 ($millions)
  • 15. Future asset position By 2017, Alberta will have $49B of net assets • $61B in financial assets • $34B in capital assets • $22B of capital debt (thru P3s and direct borrowing) • After a 30-year amortization the debt will be paid off
  • 16. Net debt to GDP
  • 17. Investing in our future Total Savings Plan expected to reach $26B by 2016-17
  • 18. Savings Management Act Investing in our future $1 B (by 2015-16) $200 M (2014-15) $2 B (by 2023-24) $200 M (2014-15)
  • 19. Budget 2014 www.budget.alberta.ca twitter.com/AB_TB_Finance #ABbudget

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