Jeromy Farkas Take on budget - Cole's Note Facebook Post of the day
Jeromy Farkas on the Budget
📢2025 Alberta Budget - A Calgary Perspective
By Jeromy Farkas
The provincial budget is about choices. This one has some wins, some losses, and some areas where we need to push for better. As mayor, I will be a strong, pragmatic advocate for Calgary – someone who can work across party lines to deliver results and ensure that Calgarians are represented.
Let's dig in. Here's my initial take on what needs fixing, what to watch, and what's on the right track.
🚨 Fix This (problems that need urgent attention)
📈 Property tax hike for Calgary: Affordability must be our top priority right now. This budget increases property taxes on Calgarians by about $240 for the average home. This places an undue burden on our city's families and seniors, who are already contributing more to provincial revenues than we receive back.
🏭Lack of explicit tariff resilience: Other provinces are already preparing for potential trade barriers and economic disruptions, and Alberta needs to do more. We need to be ready to fight back aggressively against unfair tariffs that could cripple industries like agriculture, energy, and manufacturing. Alberta must take a proactive stance — strengthening local supply chains and using every tool at our disposal to defend our economy.
🚧 Lack of urgency on housing and infrastructure: Calgary is growing fast, and we need a more substantial commitment to building the roads, transit, and utilities to support a population of 3 million in the next decade. The province is falling behind in supporting municipalities facing this growth.
🎓 Stagnant post-secondary funding: Despite a collective plea from 25 student unions to restore operational funding to 2019 levels, the budget maintains current funding for Calgary's post-secondary institutions. This stagnation hampers our institutions' ability to provide quality education and support services significantly as costs rise. Ultimately, this will hurt our city's competitiveness on the world stage.
👀 Keep an Eye On (has potential but needs to follow through)
💰Local Government Fiscal Framework (LGFF) funding increase: Calgary will receive $255 million this year under the province's Local Government Fiscal Framework, an increase of $31 million from 2024, but significantly below levels first committed. This funding helps support infrastructure capital, maintenance, and operating costs. However, because this grant is tied to provincial revenues, funding levels could fluctuate in the future. We need to serve Calgarians' needs today, regardless of tomorrow's resource prices. We need to monitor whether this funding remains stable and meets long-term infrastructure needs.
🏛️Restoration of Grants in Place of Taxes (GIPOT): The province's plan to restore GIPOT funding to 75% this year and 100% next year is a positive step for municipalities. It's crucial to keep an eye on this and make sure that the provincial government follows through.
✅ Build on This (wins that should be expanded)
🌊 Continued support for flood mitigation projects to protect Calgary's lives and livelihoods: The commitment of $74.3 million over the next two years to complete flood mitigation work is a crucial investment. This project will help protect communities along the Elbow River from catastrophic flooding, a lesson learned from the devastating 2013 floods.
🚎 Continued support for the low-income transit pass program: Maintaining funding for this program benefits approximately 160,000 Albertans, with around 40% residing in Calgary. This initiative enhances mobility and access to opportunities for low-income residents, contributing to a more equitable city.
The provincial budget is about choices.
This one has some wins, some losses, and some areas where we need to push for better.
A strong mayor will push for a better deal for Calgary—and that's precisely what I will do.
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