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September 30, 2003
Alberta Revenue Reports on its Second Year
Edmonton… Alberta Revenue addressed a number of challenges in the investment markets, including managing investments in a bear market and assuming a leadership role in reforming securities regulation across the country, according to Alberta Revenue's 2002-03 Annual Report.
"This past year has been one of both challenges and successes, as we managed over $35 billion of assets through the worst bear market since the 1930s," said Revenue Minister Greg Melchin, "And Alberta Revenue led the other provinces and territories in work to improve securities regulation."
Highlights of Alberta Revenue's 2002-03 Annual Report include:
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Consulting with more than 77,000 Albertans regarding their thoughts on the future of the Alberta Heritage Savings Trust Fund;
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Working with provincial and territorial ministers from across Canada to make improvements to the securities regulatory framework;
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Encouraging economic growth by reducing the general corporate tax rate, small business tax rate and increasing the small business tax exemption; and
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Supporting Alberta's tobacco reduction strategy by increasing tobacco taxes for the first time in 10 years.
"While it is difficult to know exactly how many people have quit smoking because of the increases to tobacco taxes, we do know that tax-paid tobacco sales have decreased by 18 per cent," added Melchin.
For a hard copy of the Alberta Revenue Annual Report 2003, Albertans can call the Alberta Revenue information line at (780) 427-3035 (or dial toll-free anywhere in Alberta, dial 310-000 first).
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For media inquiries, please
contact:
| Cathy Housdorff Director of Communications Alberta Revenue (780) 427-5364 |
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Dial 310-0000 for toll free access outside of Edmonton. |
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