Alberta
Alberta fiscal update: second quarter is outstanding, challenges ahead

Alberta maintains a balanced budget while ensuring pressures from population growth are being addressed.
Alberta faces rising risks, including ongoing resource volatility, geopolitical instability and rising pressures at home. With more than 450,000 people moving to Alberta in the last three years, the province has allocated hundreds of millions of dollars to address these pressures and ensure Albertans continue to be supported. Alberta’s government is determined to make every dollar go further with targeted and responsible spending on the priorities of Albertans.
The province is forecasting a $4.6 billion surplus at the end of 2024-25, up from the $2.9 billion first quarter forecast and $355 million from budget, due mainly to higher revenue from personal income taxes and non-renewable resources.
Given the current significant uncertainty in global geopolitics and energy markets, Alberta’s government must continue to make prudent choices to meet its responsibilities, including ongoing bargaining for thousands of public sector workers, fast-tracking school construction, cutting personal income taxes and ensuring Alberta’s surging population has access to high-quality health care, education and other public services.
“These are challenging times, but I believe Alberta is up to the challenge. By being intentional with every dollar, we can boost our prosperity and quality of life now and in the future.”
Midway through 2024-25, the province has stepped up to boost support to Albertans this fiscal year through key investments, including:
- $716 million to Health for physician compensation incentives and to help Alberta Health Services provide services to a growing and aging population.
- $125 million to address enrollment growth pressures in Alberta schools.
- $847 million for disaster and emergency assistance, including:
- $647 million to fight the Jasper wildfires
- $163 million for the Wildfire Disaster Recovery Program
- $5 million to support the municipality of Jasper (half to help with tourism recovery)
- $12 million to match donations to the Canadian Red Cross
- $20 million for emergency evacuation payments to evacuees in communities impacted by wildfires
- $240 million more for Seniors, Community and Social Services to support social support programs.
Looking forward, the province has adjusted its forecast for the price of oil to US$74 per barrel of West Texas Intermediate. It expects to earn more for its crude oil, with a narrowing of the light-heavy differential around US$14 per barrel, higher demand for heavier crude grades and a growing export capacity through the Trans Mountain pipeline. Despite these changes, Alberta still risks running a deficit in the coming fiscal year should oil prices continue to drop below $70 per barrel.
After a 4.4 per cent surge in the 2024 census year, Alberta’s population growth is expected to slow to 2.5 per cent in 2025, lower than the first quarter forecast of 3.2 per cent growth because of reduced immigration and non-permanent residents targets by the federal government.
Revenue
Revenue for 2024-25 is forecast at $77.9 billion, an increase of $4.4 billion from Budget 2024, including:
- $16.6 billion forecast from personal income taxes, up from $15.6 billion at budget.
- $20.3 billion forecast from non-renewable resource revenue, up from $17.3 billion at budget.
Expense
Expense for 2024-25 is forecast at $73.3 billion, an increase of $143 million from Budget 2024.
Surplus cash
After calculations and adjustments, $2.9 billion in surplus cash is forecast.
- $1.4 billion or half will pay debt coming due.
- The other half, or $1.4 billion, will be put into the Alberta Fund, which can be spent on further debt repayment, deposited into the Alberta Heritage Savings Trust Fund and/or spent on one-time initiatives.
Contingency
Of the $2 billion contingency included in Budget 2024, a preliminary allocation of $1.7 billion is forecast.
Alberta Heritage Savings Trust Fund
The Alberta Heritage Savings Trust Fund grew in the second quarter to a market value of $24.3 billion as of Sept. 30, 2024, up from $23.4 billion at the end of the first quarter.
- The fund earned a 3.7 per cent return from July to September with a net investment income of $616 million, up from the 2.1 per cent return during the first quarter.
Debt
Taxpayer-supported debt is forecast at $84 billion as of March 31, 2025, $3.8 billion less than estimated in the budget because the higher surplus has lowered borrowing requirements.
- Debt servicing costs are forecast at $3.2 billion, down $216 million from budget.
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Alberta
Province announces plans for nine new ‘urgent care centres’ – redirecting 200,000 hospital visits

Expanding urgent care across Alberta
If passed, Budget 2025 includes $17 million in planning funds to support the development of urgent care facilities across the province.
As Alberta’s population grows, so does the demand for health care. In response, the government is making significant investments to ensure every Albertan has access to high-quality care close to home. Currently, more than 35 per cent of emergency department visits are for non-life-threatening conditions that could be treated at urgent care centres. By expanding these centres, Alberta’s government is enhancing the health care system and improving access to timely care.
If passed, Budget 2025 includes $15 million to support plans for eight new urgent care centres and an additional $2 million in planning funds for an integrated primary and urgent care facility in Airdrie. These investments will help redirect up to 200,000 lower-acuity emergency department visits annually, freeing up capacity for life-threatening cases, reducing wait times and improving access to care for Albertans.
“More people are choosing to call Alberta home, which is why we are taking action to build capacity across the health care system. Urgent care centres help bridge the gap between primary care and emergency departments, providing timely care for non-life-threatening conditions.”
“Our team at Infrastructure is fully committed to leading the important task of planning these eight new urgent care facilities across the province. Investments into facilities like these help strengthen our communities by alleviating strains on emergency departments and enhance access to care. I am looking forward to the important work ahead.”
The locations for the eight new urgent care centres were selected based on current and projected increases in demand for lower-acuity care at emergency departments. The new facilities will be in west Edmonton, south Edmonton, Westview (Stony Plain/Spruce Grove), east Calgary, Lethbridge, Medicine Hat, Cold Lake and Fort McMurray.
“Too many Albertans, especially those living in rural communities, are travelling significant distances to receive care. Advancing plans for new urgent care centres will build capacity across the health care system.”
“Additional urgent care centres across Alberta will give Albertans more options for accessing the right level of care when it’s needed. This is a necessary and substantial investment that will eventually ease some of the pressures on our emergency departments.”
The remaining $2 million will support planning for One Health Airdrie’s integrated primary and urgent care facility. The operating model, approved last fall, will see One Health Airdrie as the primary care operator, while urgent care services will be publicly funded and operated by a provider selected through a competitive process.
“Our new Airdrie facility, offering integrated primary and urgent care, will provide same-day access to approximately 30,000 primary care patients and increase urgent care capacity by around 200 per cent, benefiting the entire community and surrounding areas. We are very excited.”
Alberta’s government will continue to make smart, strategic investments in health facilities to support the delivery of publicly funded health programs and services to ensure Albertans have access to the care they need, when and where they need it.
Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.
Quick facts
- The $2 million in planning funds for One Health Airdrie are part of a total $24-million investment to advance planning on several health capital initiatives across the province through Budget 2025.
- Alberta’s population is growing, and visits to emergency departments are projected to increase by 27 per cent by 2038.
- Last year, Alberta’s government provided $8.4 million for renovations to the existing Airdrie Community Health Centre.
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Alberta
Province pumping $100 million into Collegiates and Dual-Credit hands-on learning programs

Alberta’s government is helping students discover their skills and interests today, to help them find careers for tomorrow.
If passed, Budget 2025 will provide more than $100 million over three years for school boards to grow career education programs, including funding for more collegiate and dual-credit programs across Alberta.
“We are working to set students up for success by strengthening job-focused education. This money is helping schools partner with businesses, universities and colleges to create programs that will help students hit the ground running after they graduate.”
Career education helps students gain credits towards graduation while earning hands-on experience in fields like the trades, computer programming, health care, agriculture, culinary arts and more. These career education programs support a strong economy by helping students learn the skills they need to get in-demand jobs.
Collegiate schools
Collegiate schools work with businesses, universities and colleges to offer classes that give students pathways to education and careers in the job of their choice. There are 12 collegiate schools in Alberta, offering many different types of programming for grades 7-12, including aviation, graphic design, trades and more.
If passed, Budget 2025 provides more than $21 million to school boards to help fund special classrooms like carpentry workshops, film and media rooms, science laboratories, heavy equipment simulators and aircraft hangars. Another $6 million is being invested to support the start-up costs for new collegiate schools.
Dual-credit programs
Budget 2025, if passed, also provides $4.6 million in 2025/26 to start new or improve existing dual-credit programs. In partnership with universities and colleges, dual-credit programs give students a head start on rewarding careers by allowing them to earn high-school and post-secondary credits at the same time. Of the $4.6 million, $550,000 is being provided by Alberta Seniors, Community and Social Services for new and improved dual-credit health care aide programs.
“Health care aides play a critical role in ensuring Albertans receive the continuing care services they need to maintain their health, independence and quality of life. Our investments into career pathways for health care aides will provide opportunities for young Albertans to develop the skills they need to build a rewarding career in Alberta’s continuing care workforce.”
Another $1.4 million is being invested to support students participating in off-campus career education programs through CAREERS. This non-profit connects students to jobs in high-demand fields, such as the trades, technology, health, forestry and agriculture.
“Investments in collegiate and dual-credit programming are significant for Calgary Catholic as they further strengthen our collegiate and dual-credit programming. This programming will open opportunities for our students and help them to realize their full potential.”
“Before Fusion Collegiate, I felt lost and wasn’t really sure what to do after high school. Thanks to its career-focused learning and the opportunities through Fusion and The Educational Partnership Foundation, I’m now working as a first-year apprentice plumber with Mr. Rooter. The hands-on trades training, high school credits, safety certifications, and real-world skills I picked up completely changed my life. I’m excited about where my career is headed and really thankful for the support that helped me get here.”
Budget 2025 is meeting the challenge faced by Alberta communities with continued investments in education and health, lower taxes for families and a focus on the economy.
Quick facts
- If passed, Budget 2025 invests $102.4 million over three years to provide sustainable, predictable career education funding, and to increase access to career education for Alberta students.
- This includes $8.4 million over 2026-27 and 2027-28 to raise awareness among students and families of career education programs and pathways available to Alberta students.
- Career education in Alberta includes career and technology courses, Career and Life Management (CALM), dual-credit courses, collegiate schools, apprenticeships and off-campus education programming.
- Since 2013, more than 95,000 high school students participated in at least one dual–credit course.
- In spring 2025, Alberta Education will engage with education partners on best practices to bring more career education opportunities to students.
- Since 2022, education partners and almost 5,000 Albertans have provided their feedback on career education and workforce needs.
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