Photo: The Canadian Press Alberta Premier Jason Kenney says the province is on track for a $13.2 billion surplus this fiscal year. That’s on top of the $511 million surplus forecast when the provincial budget was introduced in February. The province is experiencing another wave of economic prosperity due to high oil and natural gas prices, along with higher royalty payments from oil and petroleum maturation projects. Kenney, currently on a government trip to South Korea, made the announcement in a video posted to Twitter. Finance Minister Jason Nixon is set to release more details Wednesday on the province’s finances for the first three months of this fiscal year. Kenney says the windfall will allow the province to adjust non-refundable income tax caps and tax scale caps to inflation starting this year. He says that means the average Albertan would see a benefit of $300. The Kenney government was heavily criticized for adjusting the brackets in 2019 after promising not to punish Albertans with more taxes. A recent study from the University of Calgary’s School of Public Policy says the move effectively forced Albertans to pay nearly $647 million more in taxes from 2020 to 2022. Alberta’s economy has weathered the highs and lows of volatile oil prices for decades, with prices falling during the COVID-19 pandemic. As prices recovered, the province submitted a budget this year that projected a surplus of $511 million, dependent on the benchmark West Texas Intermediate oil price averaging 70 barrels. West Texas has been much higher than that, averaging over US$100 a barrel in the first six months of this year and now in the $80 range. Last year’s budget, created during the economic downturn of the COVID-19 pandemic, projected a deficit of $18 billion, but ended up with a surplus of nearly $4 billion.

title: “Alberta On Track For 13.2 Billion Surplus Kenney Says Ahead Of Budget Update Canada News Klmat” ShowToc: true date: “2022-10-27” author: “Albert Sellers”

Photo: The Canadian Press Alberta Premier Jason Kenney says the province is on track for a $13.2 billion surplus this fiscal year. That’s on top of the $511 million surplus forecast when the provincial budget was introduced in February. The province is experiencing another wave of economic prosperity due to high oil and natural gas prices, along with higher royalty payments from oil and petroleum maturation projects. Kenney, currently on a government trip to South Korea, made the announcement in a video posted to Twitter. Finance Minister Jason Nixon is set to release more details Wednesday on the province’s finances for the first three months of this fiscal year. Kenney says the windfall will allow the province to adjust non-refundable income tax caps and tax scale caps to inflation starting this year. He says that means the average Albertan would see a benefit of $300. The Kenney government was heavily criticized for adjusting the brackets in 2019 after promising not to punish Albertans with more taxes. A recent study from the University of Calgary’s School of Public Policy says the move effectively forced Albertans to pay nearly $647 million more in taxes from 2020 to 2022. Alberta’s economy has weathered the highs and lows of volatile oil prices for decades, with prices falling during the COVID-19 pandemic. As prices recovered, the province submitted a budget this year that projected a surplus of $511 million, dependent on the benchmark West Texas Intermediate oil price averaging 70 barrels. West Texas has been much higher than that, averaging over US$100 a barrel in the first six months of this year and now in the $80 range. Last year’s budget, created during the economic downturn of the COVID-19 pandemic, projected a deficit of $18 billion, but ended up with a surplus of nearly $4 billion.

title: “Alberta On Track For 13.2 Billion Surplus Kenney Says Ahead Of Budget Update Canada News Klmat” ShowToc: true date: “2022-11-23” author: “Lora Pompa”

Photo: The Canadian Press Alberta Premier Jason Kenney says the province is on track for a $13.2 billion surplus this fiscal year. That’s on top of the $511 million surplus forecast when the provincial budget was introduced in February. The province is experiencing another wave of economic prosperity due to high oil and natural gas prices, along with higher royalty payments from oil and petroleum maturation projects. Kenney, currently on a government trip to South Korea, made the announcement in a video posted to Twitter. Finance Minister Jason Nixon is set to release more details Wednesday on the province’s finances for the first three months of this fiscal year. Kenney says the windfall will allow the province to adjust non-refundable income tax caps and tax scale caps to inflation starting this year. He says that means the average Albertan would see a benefit of $300. The Kenney government was heavily criticized for adjusting the brackets in 2019 after promising not to punish Albertans with more taxes. A recent study from the University of Calgary’s School of Public Policy says the move effectively forced Albertans to pay nearly $647 million more in taxes from 2020 to 2022. Alberta’s economy has weathered the highs and lows of volatile oil prices for decades, with prices falling during the COVID-19 pandemic. As prices recovered, the province submitted a budget this year that projected a surplus of $511 million, dependent on the benchmark West Texas Intermediate oil price averaging 70 barrels. West Texas has been much higher than that, averaging over US$100 a barrel in the first six months of this year and now in the $80 range. Last year’s budget, created during the economic downturn of the COVID-19 pandemic, projected a deficit of $18 billion, but ended up with a surplus of nearly $4 billion.

title: “Alberta On Track For 13.2 Billion Surplus Kenney Says Ahead Of Budget Update Canada News Klmat” ShowToc: true date: “2022-11-22” author: “Lorraine Clifton”

Photo: The Canadian Press Alberta Premier Jason Kenney says the province is on track for a $13.2 billion surplus this fiscal year. That’s on top of the $511 million surplus forecast when the provincial budget was introduced in February. The province is experiencing another wave of economic prosperity due to high oil and natural gas prices, along with higher royalty payments from oil and petroleum maturation projects. Kenney, currently on a government trip to South Korea, made the announcement in a video posted to Twitter. Finance Minister Jason Nixon is set to release more details Wednesday on the province’s finances for the first three months of this fiscal year. Kenney says the windfall will allow the province to adjust non-refundable income tax caps and tax scale caps to inflation starting this year. He says that means the average Albertan would see a benefit of $300. The Kenney government was heavily criticized for adjusting the brackets in 2019 after promising not to punish Albertans with more taxes. A recent study from the University of Calgary’s School of Public Policy says the move effectively forced Albertans to pay nearly $647 million more in taxes from 2020 to 2022. Alberta’s economy has weathered the highs and lows of volatile oil prices for decades, with prices falling during the COVID-19 pandemic. As prices recovered, the province submitted a budget this year that projected a surplus of $511 million, dependent on the benchmark West Texas Intermediate oil price averaging 70 barrels. West Texas has been much higher than that, averaging over US$100 a barrel in the first six months of this year and now in the $80 range. Last year’s budget, created during the economic downturn of the COVID-19 pandemic, projected a deficit of $18 billion, but ended up with a surplus of nearly $4 billion.