Alberta Budget 2021 overview

Without question, the past 12 months have been some of the most difficult and trying in our lifetimes. A year has been swallowed by a virus that’s upended the status quo and wreaked havoc on everything from our health-care systems to our economy.

Alberta’s 2021 budget, tabled yesterday by Finance Minister Travis Toews, aims to maneuver within these realities, many of which have had a major impact on the lives of BTA affiliate members and their families.

Below is a quick overview of some key budget areas of particular interest to BTA membership:

Projected deficits:

– $20.2 billion shortfall for 2020-2021
– $18.2 billion shortfall for 2021-2022
– $11 billion shortfall for 2022-2023
– $8 billion shortfall for 2023-2024

Projected revenues:

– $42.3 billion for 2020-2021
– $43.7 billion for 2021-2022
– $47.4 billion for 2022-2023
– $50.9 billion for 2023-2024

Projected expenses:

– $55.5 billion for 2020-2021 (including $5.8 billion for COVID-19 recovery)
– $57.3 billion for 2021-2022
– $57.1 billion for 2022-2023
– $58 billion for 2023-2024

Projected unemployment rates:

– 9.9% in 2021
– 8.4% in 2022
– 7.3% in 2023
– 6.3% in 2024

Projected West Texas Intermediate (WTI):

– $46 per barrel for 2021-2022
– $55 per barrel for 2022-2023
– $56.50 per barrel for 2023-2024

Infrastructure and capital projects:

– Additional $1.7 billion to capital plan for a three year total capital spend of $20.7 billion
– 41 new infrastructure projects province-wide, aim is to increase private-sector investment and projects that benefit communities and create employment
– Projected to generate 90,000 jobs over the next three years


– $900-million for skills development and job training in key economic sectors, with focus on economic diversification and new technologies


– $143-million over three years for new facilities and health care infrastructure
– $900-million boost to health spending (mostly aimed at reducing backlog of procedures due to COVID-19)
– $3.5 billion to community care, continuing care and home care
– $140-million over four years to increase mental health supports

Building Trades of Alberta encourages all members and Albertans to learn more about Budget 2021, here.

Related Posts

Local 1999 is a Threat to Alberta Workers

The National Construction Council (NCC), Local 1999 says that they’re a “game changer” for the future of construction. “Game fixer” is more like it. Contracts signed by Local 1999 result in sub-standard agreements that, in the long-term will cause irreparable damage...

Alberta Budget 2022 overview

Yesterday, Finance Minister Travis Toews tabled Budget 2022 in the Alberta legislature, which, for the second time in ten years, will see the province in a balanced budget position. This is a welcomed development following years of deficits resulting from collapsed...