Targeting dollars to priority areas, preserving Alberta's position as the lowest taxed province in Canada and maintaining a balanced budget remained strong in Budget 2002, which was tabled in the Alberta Legislature by Minister of Finance Patricia Nelson on March 19, 2002.

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• Quick Facts Brochure in pdf format
• Budget 2002 Highlights
• Solid Economic Growth for Alberta
• Responding to Challenging Times
• Protecting Priorities
• The Alberta Tax Advantage
• Balanced Budgets and Debt Repayment

• Responds to changing world economic conditions.
• Starts the implementation of health reforms.
• Allocates available dollars to key priorities.
• Maintains Alberta's overall economic and tax advantages.
• Balances the budget and continues debt repayment.

• Alberta's economic growth will be 2.5% in 2002.
• Over 35,000 new jobs will be created in 2002.
• Alberta's growth is expected to climb to 3.9% in 2003.
• Another 109,000 jobs will be added by 2005.

• Budget 2002 assumes natural gas prices will average around Cdn$3.00 per thousand cubic feet and oil prices will be US$20 per barrel for the next three fiscal years.
• Resource revenue is budgeted to decline to $3.7 billion in 2002-03. Corporate income tax revenue and investment income will also be weaker than expected a year ago.
• Health spending will be $180 million higher than planned in Budget 2001. To pay for this, health care insurance premiums will increase by $10 per month for individuals and $20 per month for families. Premium subsidies for lower-income Albertans will also increase.
• Increases for most other ministries will be lower than previously planned, saving $159 million.
• $631 million in infrastructure spending, previously planned for 2002-03, will be deferred.
• Business tax reductions will proceed, but at a slower rate.
• Taxes on cigarettes will increase by $2.25 per pack.
• Liquor markups, highway traffic fines and various fees will increase and the freeze on school property tax revenue will be lifted.

• Health and Wellness spending will increase by 7.3% to $6.8 billion in 2002-03.
• Learning program spending will increase by 4.7% to $4.7 billion in 2002-03.
• Assistance for those in need will increase by 5.6% to over $2 billion in 2002-03.
• Spending on transportation and infrastructure will return to the base level of about $1.1 billion per year for the next three years.
• Agriculture, Food and Rural Development spending is budgeted to be about $550 million per year for the next three years.

• Alberta's overall tax advantage will be maintained. There will be no sales tax, no personal income tax increase, no payroll tax, and no capital tax.
• A typical one-income family earning $30,000 with two children will pay 81% less in taxes and health care insurance premiums in Alberta than the average in other provinces.
• A typical two-income family earning $60,000 with two children will pay 30% less in taxes and health care insurance premiums in Alberta than the average in other provinces.
• Business tax reductions will save Alberta businesses $81 million in 2002-03.
• Alberta's small business corporate income tax rate of 4.5% will be tied for the second lowest among provinces and the general corporate income tax rate of 13% will be the third lowest.

• As required by the Fiscal Responsibility Act, the budget will be balanced for the next three years.
• The economic cushion will be $724 million in 2002-03.
• In 2002-03, revenue will decline by 5.6% to $20 billion, a drop of $1.2 billion from the 2001-02.
• Total expense for 2002-03 is $19.2 billion, a decline of $1.7 billion or 8.1%.
• Accumulated debt, less cash set aside for future debt repayment, is forecast to be $5.8 billion at the end of 2002-03 and less than $5 billion by the end of 2004-05.
• Debt reduction has eliminated over $1.2 billion in debt servicing costs.
• Debt repayment is nine years ahead of the legislated schedule.