Newsrelease

April 21, 1997
Edmonton, Alberta

"Fiscal success starts with solid policy. But it relies on dependable fiscal management."

Treasury Remains Focused on Excellence in Fiscal Management

With the introduction of Budget ’97 Update, Provincial Treasurer Stockwell Day also tabled Alberta Treasury’s business plan for the fiscal years 1997-98 to 1999-2000.

The Ministry business plan sets out the following six goals:

• to keep our province’s finances in order
• to ensure government is accountable to Albertans for its business plan and finances
• to ensure a fair, competitive, simple and efficient provincial tax revenue system
• to maximize investment returns and minimize borrowing costs, subject to acceptable risk
• to ensure an efficient, fair and competitive capital market and regulatory environment for financial institutions
• to deliver quality financial services to Albertans through Alberta Treasury Branches, Alberta Municipal Financing Corporation, and Alberta Pensions Administration Corporation

Over the next few years, Treasury will focus on improving the competitiveness of Alberta’s corporate tax system, maintaining the lowest overall taxes in Canada, implementing the Family and Employment Tax Credit, harmonizing tax collection and securities commission filings, and continuing to keep Albertans well informed about Alberta’s fiscal plans. Alberta Treasury also takes the lead on coordinating government’s annual report on core measures that cut across all government Ministries.

To measure progress against Alberta Treasury’s goals, we regularly monitor three key performance measures: provincial and municipal tax load on Albertans; annual surplus; and Alberta’s cost of borrowing relative to the Government of Canada’s costs in the Canadian bond market.

"Accountability is important. Treasury is responsible for managing taxpayer dollars. It’s important to make the best financial decisions, measure our results and keep Albertans informed along the way," said Provincial Treasurer Stockwell Day.

The only change in Alberta Treasury’s business plan from February is that the Ministry will now be responsible for regulatory reform and re-organization secretariat.

For further information, please contact:

Trish Filevich
Director of Communications
Alberta Treasury
(403) 427-5364
webmaster@treas.gov.ab.ca

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