Highlights of the Alberta budget

EDMONTON – Highlights of the Alberta 2012-2013 budget released Thursday by Finance Minister Ron Liepert:

– No new taxes, tax increases or cuts to the public service.

– Income cutoff for families to receive child-care subsidies will rise to $50,000 from $35,000.

– Social assistance payments to increase by an average of five per cent, the first increase since 2008.

– Payments under the Assured Income for the Severely Handicapped program to increase by $400 a month.

– Increase in health spending, including money for the South Calgary Health Campus, Edmonton Clinic South and family-care clinic pilot projects.

– Funding for seniors benefit program to increase by 6.6 per cent.

– Ninety new RCMP officers, 55 new sheriffs by 2013-2014.

– Primary and secondary education funding to increase 3.4 per cent.

– Advanced Education funding to increase by 2.7 per cent, including $200 million in student loan remissions and debt management programs.

– $11 million for oilsands region environmental monitoring.

– An $886 million-deficit in 2012-13, a balanced budget the following year and a $5.2-billion surplus in 2014-15.

– Budget is using up half of Alberta’s $7.4-billion Stability Fund.

The budget is based on forecast economic growth of 3.8 per cent and a conventional oil price of $99.25 per barrel (West Texas Intermediate).