How each UCP leadership candidate says they would manage Alberta's surplus
CBC
Thanks in part to skyrocketing oil and gas prices, Alberta reported a surplus of $3.9 billion from last fiscal year leaving the yet-to-be-determined new leader of the United Conservative Party with a bevy of options for what to do with the cash.
We asked each of 10 candidates how they would manage or invest the surplus if they are chosen as UCP leader and premier of Alberta this fall. Most focused on three things: paying off debt, reinvestment and offering Albertans a break from inflation.
"I just think it's important to remember that this could be our very last oil boom. We just don't know," said Leela Aheer, UCP MLA for Chestermere-Strathmore who was punted from cabinet last year after criticizing Premier Jason Kenney.
She said managing the surplus in a responsible manner is key, and that it presents an opportunity to invest money into health care, education and the Heritage Savings Trust Fund, Alberta's main long-term savings fund that is currently valued at $20 billion.
Aheer said that in light of COVID-19, it's important to have those savings.
The UCP MLA for Fort McMurray-Lac La Biche and former Wildrose leader said the highest priority is to pay off the province's debt, which hit $93 billion on March 31.
Jean said a second priority would be to "alleviate the burden of high inflation on Albertans through ways that don't cost the government a fortune," such as by using interest from the surplus to reduce transmission and distribution charges on electricity bills.
While Jean said he is committed to fixing health care, he added he'd rather better manage the budget to pay for it than put more money in.
"We need to focus on repaying the debt and not increasing operational spending, because when the surpluses aren't there any more, then we just accumulate more debt," said Todd Loewen, Independent MLA for Central Peace-Notley.
He said his position is that it would be best to find efficiencies to spend money more effectively on health care.
"If we look at what we're spending for health care right now, we're spending a lot and the services that we get aren't, I don't think, up to par for what we're spending."
In terms of measures for affordability, he said one thing to look at would be lowering taxes for the middle class.
Former transportation minister Rajan Sawhney said that a portion of the surplus would go into the Heritage Savings Trust Fund and a portion would be put toward paying off debt.
To help affordability, she said her plan is to start indexing for programs like age and seniors benefits, and start reindexing tax brackets.
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