Alberta Premier Danielle Smith will deliver a televised address on Thursday, February 19, at 6:45 p.m. MT. The speech serves as a formal preamble to the 2026 Provincial Budget, which is set to be tabled on February 26.
Thank you for reading this post, don't forget to subscribe!The Fiscal Shift: From Surplus to Shortfall
The tone of this address is expected to be significantly more somber than in previous years. The province is navigating a dramatic shift in its financial health:
- The Deficit: After a period of record-breaking surpluses, Alberta is now facing a projected $6.4 billion deficit for the upcoming fiscal year.
- The Energy Factor: The “resource coaster” has dipped; while the previous budget relied on oil at $74/barrel, current prices have struggled to stay above $60.
- Global Pressures: The government is pointing to U.S. tariff threats and global trade volatility as primary drivers for this conservative fiscal approach.
Premier Smith’s Core Message
Expect the Premier to lean into three main pillars during her broadcast:
- Fiscal Restraint: A “belt-tightening” approach to government operations to curb the growing deficit.
- Protected Services: Smith has signaled that while spending will be reigned in, she intends to avoid “deep cuts” to essential sectors like healthcare and education.
- Long-term Savings: Reaffirming the commitment to the Heritage Savings Trust Fund, aiming for a $250 billion valuation by 2050 to break the cycle of oil-dependent budgeting.
