Alberta NDP releases fully costed economic plan, shows $3.3B surplus over three years

Alberta NDP Leader Rachel Notley arrives at a campaign rally in Calgary, Alta., Thursday, May 11, 2023. Albertans go to the polls on May 29. THE CANADIAN PRESS/Jeff McIntosh

Alberta's NDP has released a fully costed economic plan that predicts a $3.3-billion surplus over three years if elected on May 29.

Shannon Phillips, a candidate in Lethbridge, Alta., and Opposition finance critic, held a news conference this morning in Calgary with economist Todd Hirsch.

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He had previously released a report commissioned by NDP Leader Rachel Notley on how to manage the province's surplus for future generations.

Hirsch, formerly ATB Financial's chief economist, says he endorses the NDP's fiscal strategy and Notley as the next premier.

The NDP says it would raise the corporate tax rate to 11 per cent from eight per cent to increase revenue by $6.2 billion over three years, but notes the rate would still be the lowest in Canada.

Its plan also focuses on ending the health-care crisis by ensuring Albertans can get a doctor, investing in education by hiring more teachers and educational assistants, and lowering the cost of living by reducing utility bills and freezing personal taxes.

This report by The Canadian Press was first published May 16, 2023.