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 The Canadian Press

UCP claims high taxes on Albertans

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

May 17, 2023 | 10:37 AM

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 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.

“Furthermore, this is an economic plan that works for everyone. It’s a plan that will give a hand up to those who need it so they can contribute to and invest in our province. It’s a plan that protects the vulnerable, embraces diversity and fosters creativity. It’s a plan that will help families struggling to keep up with the rising cost of living,” he said.

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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.

They say the plan 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, among other incentives like the reinstatement of various tax credits.

View the plan here.

The NDP added that with less than two weeks left to the election campaign, the UCP have not released the costs of heir commitments or have chosen not to campaign some of their contentious proposals like the Alberta Pension Plan, provincial police force or the oil and gas well-clean ups.

UCP

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.

He said under the UCP government, the Alberta business tax became the lowest in the country at eight per cent, welcoming $729 million in venture capital investment last year alone, bringing large companies like Amazon, Air Products Hydrogen Production and De Havilland, and filled thousands of jobs through their Alberta is Calling campaign.

The UCP claim that Notley also failed to mention their introduction of a carbon tax while campaigning in 2015 which became one of the largest tax hikes in the province’s history.

He claims Notley’s carbon tax inspired the increasing federal government’s carbon tax under Prime Minister Justin Trudeau in 2020, after the UCP repealed the provincial tax.

The UCP says they instead provided relief for Albertan with a 13 cents per litre tax holiday and lowering personal income tax rates.

They added the province’s debt rose by around $70 million following Notley’s time in power.

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

(With files from rdnewsNOW)