LETHBRIDGE, AB – Alberta Finance Minister Travis Toews has issued a response to the new federal budget.
The budget was unveiled on Tuesday, March 28, 2023, by federal Finance Minister Chrystia Freeland. She said the $491 billion budget makes “transformative investments” into Canada’s green economy and expands dental care, all while claiming that Ottawa can rein in the cost of running the government.
Toews said he is continuing to analyze the budget closely to determine its impacts on Alberta and Albertans.
He adds that he is disappointed the federal government did not include a path to budgetary balance, which is in contrast to recent claims by Ottawa that it would be a fiscally responsible plan.
“We are concerned by the level of spending and lack of fiscal responsibility exhibited in this budget and its contribution to the country’s already worrisome debt levels,” said Toews. “This is a budget that will encumber Canadians and Albertans with a doubling of debt servicing costs over the course of the fiscal plan.”
According to Toews, there is little in the budget that will fundamentally change the prevailing narrative on business investment that he claims has been stagnant since 2015. He was pleased to at least see an acknowledgement of “the federal government’s burdensome environmental impact assessment process”
There was one other area of the budget that pleased Toews.
“We are encouraged to see more detail on the previously announced hydrogen investment tax credit. We will be working to understand how it will affect the overall competitiveness of the hydrogen industry here in Alberta,” said Toews.
Lethbridge Mayor Blaine Hyggen issued a brief statement following the unveiling of the budget, saying that it will take some time to review the full scope of the budget and determine the full impacts.
“As always, City Council and I will continue to advocate for the supports we need in our city to best serve our residents,” said Hyggen.
The mayor adds that he looks forward to working with the federal government in the coming weeks and months to learn more about what the budget specifically means for Lethbridge.
READ MORE: $491B federal budget invests in clean electricity, health care
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