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Alberta's UCP Unveils Tax Cut Amid $5.2 Billion Deficit

2/28/2025

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Summary

Story summary

Alberta's UCP government, under Premier Danielle Smith, unveiled a new eight percent personal tax bracket for incomes up to $60,000 in the 2025/26 budget. This ambitious tax cut, costing $1.2 billion annually, promises to save individuals $750 and families $1,500, yet it arrives alongside rising property taxes and fees, all while facing a staggering $5.2 billion deficit.

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Story summary

Alberta's UCP government, under Premier Danielle Smith, unveiled a new eight percent personal tax bracket for incomes up to $60,000 in the 2025/26 budget. This ambitious tax cut, costing $1.2 billion annually, promises to save individuals $750 and families $1,500, yet it arrives alongside rising property taxes and fees, all while facing a staggering $5.2 billion deficit.