Alberta's new government to raise taxes and reform political funding
Alberta’s new NDP government will push ahead with a tax increase for corporations and high-income earners, as well as a political funding reform, before the Legislature’s summer recess, Premier Rachel Notley said.
The New Democratic Party government plans to abolish a flat tax, following up on a promise made during the election last month. Corporate taxes will rise to 12 percent from 10 percent now, while Albertans earning more than $125,000 annually will see their taxes increased, Notley said in a prepared speech to the Legislature.
“This bill will ask those who have benefited the most from the boom times in Alberta to now contribute a little more, so that our schools and health care can be spared from chaos and reckless cutbacks,” she said in the speech.
The NDP ended a four-decade long Progressive Conservative dynasty by winning a majority of seats in the election.
During the campaign, Notley also promised a review of the government’s take of energy revenue, a faster phase-out of coal power and an increase in the number of hospital beds in the province.
Alberta will still have the lowest provincial tax rate in Canada, Notley said. According to the party’s election platform, higher income tax will kick in for those earning $125,000, at 12 percent compared to 10 percent now. Rates will peak at 15 percent for people making more than $300,000 annually.
The government is also introducing a supply bill to allow funding for social services ahead of a budget in the fall that will be crafted “line-by-line,” the Premier said.
ROYALTY REVIEW
Alberta will move quickly on a royalty review, Notley said in a briefing with journalists before the speech. If the review indicates that the current oil price environment is not a good time to raise rates producers pay, the government “will listen,” she said, adding that more details on the review will be available by the end of the summer.
As part of the shortened legislative period before the summer recess, Notley will form a committee composed of both opposition and government members to review elections, whistle- blower and conflict of interest legislation, she said.
The New Democratic Party government plans to abolish a flat tax, following up on a promise made during the election last month. Corporate taxes will rise to 12 percent from 10 percent now, while Albertans earning more than $125,000 annually will see their taxes increased, Notley said in a prepared speech to the Legislature.
“This bill will ask those who have benefited the most from the boom times in Alberta to now contribute a little more, so that our schools and health care can be spared from chaos and reckless cutbacks,” she said in the speech.
The NDP ended a four-decade long Progressive Conservative dynasty by winning a majority of seats in the election.
During the campaign, Notley also promised a review of the government’s take of energy revenue, a faster phase-out of coal power and an increase in the number of hospital beds in the province.
Alberta will still have the lowest provincial tax rate in Canada, Notley said. According to the party’s election platform, higher income tax will kick in for those earning $125,000, at 12 percent compared to 10 percent now. Rates will peak at 15 percent for people making more than $300,000 annually.
The government is also introducing a supply bill to allow funding for social services ahead of a budget in the fall that will be crafted “line-by-line,” the Premier said.
ROYALTY REVIEW
Alberta will move quickly on a royalty review, Notley said in a briefing with journalists before the speech. If the review indicates that the current oil price environment is not a good time to raise rates producers pay, the government “will listen,” she said, adding that more details on the review will be available by the end of the summer.
As part of the shortened legislative period before the summer recess, Notley will form a committee composed of both opposition and government members to review elections, whistle- blower and conflict of interest legislation, she said.
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