Events, Provincial

Today, the Edmonton Chamber of Commerce welcomed Alberta’s President of Treasury Board and Minister of Finance, Nate Horner, for an in-depth discussion on the province’s fiscal future in a two-time sold-out event with over 430 business attendees. Hosted by Chamber CEO Doug Griffiths, the fireside chat provided business leaders with a closer look at Alberta’s fiscal strategy, major investments, and the challenges ahead.  

The conversation came at a crucial time. Alberta ended 2024 on a strong note, with 63,000 jobs created in the final quarter and GDP growth reaching 3%. But with economic uncertainty on the horizon, including tariff impacts and a projected slowdown to 2% growth in 2025, businesses were eager to hear how the province plans to navigate the years ahead. 

Our Key Takeaways 

Managing Growth Amid a Population Boom 

Alberta is experiencing record population growth, with a 4.4 percent increase in 2024—the highest in Canada. The province is on track to hit 5 million residents by mid-2025 and over 7 million by 2050. Minister Horner acknowledged that this rapid growth is putting pressure on healthcare, education, and infrastructure, but assured attendees that the government is investing strategically to ensure Alberta remains competitive and livable. 

Fiscal Responsibility and Future Planning 

The province has set aside a $4 billion contingency fund to address natural disasters and economic uncertainty related to tariffs. Minister Horner also emphasized the government’s commitment to tax relief, noting that while tax revenue will drop by $600 million, Albertans will see $1.2 billion in savings. He acknowledged that running a deficit isn’t ideal but described the current budget as the most responsible plan given Alberta’s long-term needs. 

Strategic Investments for Edmonton 

For Edmonton’s business community, several key announcements stood out: 

• $106 million for downtown revitalization, including coliseum redevelopment and an event park. 
• $2.9 billion for LRT expansion in Edmonton and Calgary. 
• Increased funding for the Municipal Grants in Place of Taxes (GIPOT), rising to 75 percent this year, with full restoration to 100 percent of eligible funding by 2026-27. 

You can view the Chamber statement here. 

Looking Ahead 

The discussion also touched on Alberta’s role as a leader in reducing interprovincial trade barriers, the importance of maintaining strong social services, and the government’s long-term strategy to strengthen the Heritage Fund. By reinvesting returns, the fund has grown from $18 billion in 2019 to $28 billion in 2025, with projections to generate $10 billion annually by 2050—part of a broader effort to diversify revenue sources beyond oil and gas. 

The Edmonton Chamber of Commerce is committed to ensuring the voice of business is heard in these critical conversations. We will continue to work closely with government to advocate for policies that support economic growth, business competitiveness, and a strong future for Alberta.