Edmonton, AB, February 26, 2026 – The deficit budget tabled by the Alberta government reflects the province’s continued reliance on non-renewable resource revenue, alongside the need to invest in services and infrastructure to meet the needs of a larger population base. Through Budget 2026, the provincial government rightly chose to focus on supporting the core services Albertans rely on most: healthcare, primary and post-secondary education, infrastructure and workforce development. Overall, the budget represents a balanced investment in the delivery of core services, amidst economic challenges arising from both the drop in non-renewable resource revenues and ongoing geopolitical and economic uncertainty.
“Education, healthcare and infrastructure are the fundamental building blocks that underpin economic activity, contributing to a workforce that is strong, educated and supported,” says Deborah Yedlin, President and CEO at the Calgary Chamber of Commerce. “However, we remain disappointed by the lack of initiatives that directly help Calgary businesses manage costs, including an increase in property taxes to cover education funding. With 58 per cent of Calgary businesses citing cost-related pressures as their biggest concern, additional support is needed to boost business confidence.”
With projected deficits over the next three fiscal years and no clear path back to balance, the Chamber is calling on the provincial government to address Alberta’s structural fiscal challenge of relying on volatile, non-renewable resource revenue. Although the government’s efforts to double production will lead to higher revenues and the Heritage Savings Trust Fund is projected to support operational funding in 2050 and beyond, we must stabilize our province’s finances now and identify a clear path to return to balance in the near term.
”We must initiate a conversation about developing a stable fiscal framework that weans Alberta off unpredictable resource revenues and enhances long-term stability,” Yedlin adds. “Although Alberta maintains the lowest debt-to-GDP ratio in Canada – providing capacity to borrow – the structural challenges we continue to face undermine stability of programs and services for businesses and Albertans. It is critical that the government develop a long-term strategy to diversify revenue streams and economic bench strength to ensure our long-term competitiveness and prosperity.”
The Calgary Chamber is pleased to see the following in Budget 2026:
- $10.8 billion in operating expenses for education, an increase of 7.2 per cent from 2025-26.
- $34.4 billion in total expense across the health-care system, an increase of 5.8 per cent from 2025-26.
- $115 million for skills and training programs and workforce initiatives to help attract and develop skilled workers.
- $27.5 million allocated to the Investment and Growth Fund to support projects across promising industries.
- Establishing the Premier’s Investment Council to develop a cohesive approach to investment attraction.
- $2.7 billion for post-secondary operations, an increase of $148 million from 2025-26, including investments in the University of Calgary’s Multi-Disciplinary Hub and the School of Veterinary Medicine to increase capacity.
- $2.6 billion over three years for cities to invest in core infrastructure through the Local Government Fiscal Framework, including $808 million for Calgary.
- $25 million over three years to maintain support for Indigenous entrepreneurship through the Indigenous Reconciliation Initiative and the Aboriginal Business Investment Fund.
- $385 million over three years for the Innovation Employment Grant Program.
- $7 million to support a pre-feasibility study of a bitumen pipeline to the west coast of British Columbia.
- $87 million over three years for the Alberta Petrochemical Incentive Program.
- $20 million for small business support and regional economic development.
We encourage the Government of Alberta to continue working closely with businesses and job creators as they implement the key initiatives outlined in Budget 2026, and we look forward to continuing to work collaboratively with the government to advance a prosperous business community for the benefit of Calgarians and Albertans.
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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