Creating an environment that attracts investment and job creators.
Alberta is facing an unprecedented economic crisis due to the COVID-19 pandemic, global recession and world oil price collapse.
Alberta’s Recovery Plan takes bold action to create jobs that get people back to work, build infrastructure and diversify our economy. We are building on our economic strengths to attract investment and position our province for prosperity. It’s a plan for today that provides hope for the future.
We’ve been hit by a triple threat of the largest public health crisis in a century, the biggest global contraction since the 1930s and an unprecedented collapse in oil prices.
Our public health response is aggressive, effective and ongoing. It continues to focus on prevention, curbing the spread, and ensuring our hospitals have capacity for worst-case scenario outbreaks.
We also acted with speed to address the economic consequences of the pandemic. We created a system of supports for job creators, and freed up cash for families and business to help relieve the pressure and keep their doors open. At the height of the pandemic, 85% of businesses representing 96% of our economy continued operating.
We know there will be a second wave. We’ll continue testing and investing to reduce the impact on Albertans.
Creating an environment that attracts investment and job creators is key to getting Albertans back to work in the well-paying jobs they deserve.
Alberta needs to be competitive in the global marketplace because every jurisdiction will be chasing the same investment opportunities. We must stand out from the rest of the world – so the world will choose Alberta as the best place to invest.
We have a good foundation. We will build on our existing strengths as one of the most desirable places to live, thanks to our quality of life, abundant natural resources, entrepreneurial culture, and business-friendly environment.
We’ll also continue investing heavily in our most important resource – our people.
Health care funding
$500 million
Continuing care supports
$261 million
Mental health funding
$53 million
Public mask program
$20 million
Community and social services
$170 million
Family supports
$21 million
Employer income tax deferral
$1.5 billion
Keystone XL equity stake
$1.5 billion
Orphan Well Association loan
$300 million
Site rehabilitation program
$1 billion
Capital maintenance and renewal
$963 million
Child care operator supports
$18 million
Relaunch grants for small- and medium-sized businesses
$200 million
Agriculture supports and forestry protection
$75 million
WCB premium waiver/deferral
$1.1 billion
ATB credit relief
$250 million
Education property tax freeze and deferral
$545 million
Student loan waiver/deferral
$193 million
Utility payment deferral
$223 million
Rent relief
$67 million
Other waivers and deferrals
Registries, AER, timber, tourism
$213 million