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Claresholm Local Press 1999-01-06 - 1999-12-29
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Date
1999-06-30
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NET DEBT PAID, ECONO Repo --Claresholm Local Press, Wednesday, June 30, 1999-9 MY STRONG, SERVICES PROGRAMS TO BENEFIT rt to Albertans GOVERNMENT OF ALBERTA - SUMMER 1999 Alberta's Net Debt Gone As of the end of June, Alberta no longer has a net debt. After six years of aggressive-debt repayment, 8.3 billion has been paid toward the total provincial debt, reducing the amount the province owes to. less than it owns. Elimination of the net debt came nearly a year ahead of schedule thanks to a higher than expected budget surplus in z the 1998/99 budget year due, in part, to the rise in oil prices. Ss As a result, the province was able to pay 1.03 billion at the end of the budget year. The remaining 63 million net debt was paid off at the end of June. Alberta can now focus on paying down the accumulated o debt of 14 billion. The accumulated debt is that part of the total debt met by provincial assets. As the debt decreases, the amount of money saved on interest costs increases, freeing up funds for program spending in priority areas like health, learning and infrastructure. Provincial Economy Remains Strong Despite roller coaster oil prices and recent turmoil in the Asian markets, Alberta s economy - continues to grow. With increasing diversity in the provincial economy, Alberta is better able to weather the volatile resource markets. The numbers prove it. From January to March of 1999, there were: 3,922 building starts, 903 million in building permits issued, 7.5 billion in manufacturing shipments, 6.2 billion in retail trade, and 137,400 international visitors Currently there are 492 major capital. projects, valued at more than 42 billion, either planned, DID YOU KNOW? Alberta will save more than 650 million a year in interest charges because the net debt has been paid off money that can be applied to programs and services that are priorities for Albertans. Se eee eer Spending in priority areas like health and learning will increase by 1.6 billion, spread over the next three years. The value of all goods, services and products produced in Alberta in 1998 was worth more than 102 billion. There are more than 160,000 km of-local, secondary and primary roads in Alberta. In 1952, there were just 18,202 km. In 1997/98, there were 547,666 students enrolled in Early Childhood Services through to Grade 12 in Alberta's schools, THE NATION'S HIGHEST aoa ae ee More Albertans per capita are underway or recently completed in Alberta. The employment numbers also show growth. Alberta has the highest workforce participation rate and the second lowest unemployment country. 8.3 8.3 Vien Naya Paid Off rate in the The efforts made to eliminate provincial debt are paying off in other ways. Alberta.al: allowing the province to benefit from lower borrowing costs. so has the country s highest credit rating, Funding Increases for Infrastructure Alberta is coping with the challenges of growth, including the demand on the province's infrastructure that comes from an increasing population and industrial development. An additional 150 million in the infrastructure budget, announced in March, will help the province manage those challenges. The additional 150 million is the first installment of a three-year infrastructure plan totaling 450 million. It puts into action the recommendations of the Premier's Task Force on working than anywhere ata Infrastructure. + z sive oaery The increase is aimed at maintaining Mean and improving Alberta s transportation infrastructure, vital to the economic strength of the province. Under the budget, 29 million has been allocated to the rural component of the North/South Trade Corridor and the rural primary highway system. The remaining funding will assist Alberta s municipalities with their transportation infrastructure needs. The funding is in addition to the 99.4 million in grants given to municipalities in 1999-2000. New Palliative Drug Program Palliative care patients who choose to remain at home can now benefit from a new program which helps reduce the significant financial burden of the cost of drugs. The 3 million Palliative Care Drug Program, launched in February, offers premium-free Alberta Blue Cross coverage for Alberta. patients diagnosed as palliative. It supports the costs of necessary medications for patients who choose fo receive treatment at home, in a hospice or lodge. Application for the program is made through a physician. All start-up costs and the usual Blue Cross premiums are waived. Under the program, patients pay 30 per cent of the drug costs, to a maximum of 25 per prescription. Out-of-pocket expenses for each patient are limited to 1000. Toll free: 310-4455 Internet: (Information/Comments) www.albertaconnects.gov.ab.ca Mail: Government of Alberta, PO Box 1333, Edmonton, Alberta T5J 2N2 Productive Session Wrapped Up The Alberta Legislature spring session wrapped up in mid-May after passing 36 pieces of legislation and announcing more than 40 new initiatives. Highlights include Budget 99, the Task Force on Children at Risk,-a new provincial debt- repayment plan, a public-private partnership on climate change, protection of the Whaleback region, legislation to remove video lottery terminals and an overhaul of the highway traffic laws. Legislation passed included: Fiscal Responsibility Act requires paying off the remaining accumulated debt over the next 25 years School Amendment Act - revised to update responsibilities of administrators and educators Traffic Safety Act one simplified piece of legislation overseeing all aspects of traffic safety Assured Income for the Severely Handicapped Act improves the program and benefits for AISH recipients Protection of Family Against Violence Act gives police more power to protect families from domestic violence. Ambulance Funding Increases Funding for ground ambulance services will increase this year by 1.4 million. The additional funding will be spent to enhance service throughout the province. A portion of the funding will expand a grant program used to assist ambulance operators with training. The grant program was first introduced last year. It allows ambulance operators the chance to upgrade their treatment and emergency driving skills. This means Albertans in all areas of the province can benefit from enhanced ambulance and emergency response service. Alberta's fiscal and economic plans are yours. Call us or write to us if you have any questions, or, if you would like further information. Alberta GOVERNMENT. OF ALBERTA
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Image 553 (1999-06-30), from microfilm reel 553, (CU11212002). Courtesy of Early Alberta Newspapers Collection, Libraries and Cultural Resources Digital Collections, University of Calgary.