22 Mar 2017

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Federal Budget 2017: Highlights for Alberta

The Government of Canada announced the federal budget for 2017 today, and there were a lot of initiatives revealed, from the minor to the major. You can read the full transcript of the budget announcement here, but here’s some of the highlights that affect Albertans.

  • Housing: $11.2 billion announced over 11 years, the largest single commitment in the budget this year. This money will be committed to a National Housing Strategy, with priority support for seniors, Indigenous people, domestic violence survivors, those with disabilities or mental health issues and veterans.
  • Child care: $7 billion announced over 10 years, given for new spaces (will start 2018-19). This could create up to 40,000 new child care spaces across the country.
  • Innovation: $950 million announced over five years to support business-led “superclusters”.
  • Startups: $400 million announced over three years for new venture capital catalyst initiative.
  • Families: parental leave is now available for up to 18 months.
  • Uber: ride-sharing services will now have to charge GST/HST, the same as taxis have to.
  • Sin taxes: one cent increase in taxes on bottles of wine, five cents additional on cases of 24 beers.
  • Canada Savings Bond: the budget marks the farewell of this bond in Canada.
  • Money for Alberta: $30 million announced as a one-time, no strings attached payment for Alberta. This is to stimulate economic activity and employment in our province’s struggling resource sector. This fund is scheduled for 2017-2018.

That’s why they’re giving “a one-time payment of $30 million to the Government of Alberta to support provincial actions that will stimulate economic activity and employment in Alberta’s resource sector,” noting the importance of its “specialized workforce.” [Edmonton Sun]

Again, the full transcript of the federal budget announcement from today is available at the link above in the National Post. Alternatively, you can catch up on more highlights from today’s reveal on Twitter with #Budget2017.

 

Tags : alberta economy, budget 2017, budget canada, calgary economy, canada budget, canada economy, federal budget, federal budget 2017, housing alberta, housing calgary, housing canada

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