Alberta NDP Leader Rachel Notley arrives at a campaign rally in Calgary, Alta., Thursday, May 11, 2023. Alberta's NDP has released a fully costed economic plan that shows it would have a $3.3-billion surplus over three years if elected on May 29. (Photo: Canadian Press)

By Canadian Press

Alberta NDP releases fully costed economic plan, shows $3.3B surplus over three years

May 16, 2023 | 12:36 PM

CALGARY, AB – The Alberta NDP has released a fully costed economic plan that predicts a $3.3-billion surplus over three years if elected on May 29.

Lethbridge-West candidate Shannon Phillips, who is also the NDP’s Opposition finance critic, held a news conference May 16, 2023, in Calgary with economist Todd Hirsch.

He had previously released a report commissioned by NDP Leader Rachel Notley on how to manage the province’s surplus for future generations.

Hirsch, formerly ATB Financial’s chief economist, said he endorses the NDP’s fiscal strategy and Notley as the next premier.

The NDP said it would raise the corporate tax rate to 11 per cent from eight per cent to increase revenue by $6.2 billion over three years, but notes the rate would still be the lowest in Canada.

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Its plan also focuses on ending the health-care crisis by ensuring Albertans can get a doctor, investing in education by hiring more teachers and educational assistants, and lowering the cost of living by reducing utility bills and freezing personal taxes.

The UCP said that Notley’s plan to raise the corporate tax rate by 38 per cent will kill hundreds of thousands of jobs.

Fort McMurray-Lac La Biche UCP Candidate Brian Jean states, “Rachel Notley has admitted she plans to punish Alberta businesses by increasing their tax rate by 38 per cent. Albertans deserve better and last time Rachel’s NDP increased taxes like this, Albertan businesses fled the province for 13 consecutive quarters, investors looked the other way, and our revenue plummeted.”

Jean claims that Notley’s record as premier reflects an era where the economy faltered and many Albertans lost their jobs.

This report by The Canadian Press was first published May 16, 2023.

READ MORE: Alberta NDP pledges to eliminate small business tax if elected