Release of 2024 Alberta Budget

Alberta’s Finance Minister Nate Horner delivered the province’s 2024 budget. The budget outlines $717 million in capital grants over 3 years to advance Alberta’s Affordable Housing Strategy, which includes $254 million in new funding to help build about 3,300 new affordable housing units and complete 1,800 units already underway. Another $257 million in 2024-25 is set aside for the Seniors Lodge, Social Housing, Specialized Housing, Affordable Housing Strategy, and Rental Assistance programs which support high-quality services in lodges and social housing so that seniors and people in need have homes that keep them safe and secure. This will also expand the rental assistance program to support another 550 households in need, for a total of 12,700 renter households. Lastly, the budget includes an increase of $24.5 million in 2024-25 and $70 million over 3 years to add hundreds of new homeless shelter spaces through the Homelessness Task Force Action Plan and support operational cost pressures at shelters.

Other highlights of the budget include:

  • $30 million over 3 years for the Aboriginal Business Investment Fund, an increase of nearly $8 million, to help fund business startup and expansion costs in Indigenous communities
  • $10 million for primary healthcare initiatives in Indigenous communities
  • $126 million over 3 years for the Rural Physician Expansion Program to increase rural and Indigenous access to medical education and increase the number of family medicine and generalist physicians
  • $85 million in 2024-25 for the Prevention of Family and Sexual Violence program
    • among other functions, this program oversees women’s shelters and services for the victims of sexual assault counselling centres
  • $15 million over 3 years to the implementation of Alberta’s Safe Streets Action Plan, as well as to support women’s shelters and sexual assault counselling centres
  • $355 million, or an increase of 9.6%, to cover indexation and population growth, for payments under the Alberta Child and Family Benefit, provided to lower-income families
    • families with 2 children are eligible for payments up to $3,641 for the 2024-25 benefit year

See the new budget for yourself on the government’s website:

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