09/26/2012 04:29 EDT | Updated 11/26/2012 05:12 EST

Alison Redford: Provincial Budget Won't Be Balanced On The Backs Of Municipalities


EDMONTON - Alberta Premier Alison Redford says that while early numbers don't look good, the budget will not be balanced on the backs of municipalities.

Speaking to the Alberta Urban Municipalities Association in Edmonton, the premier said her government is committed to ongoing funding support for capital project initiatives in cities and towns.

Last month, Finance Minister Doug Horner reported that falling oil revenues and a volatile global market may leave the province with a deficit as large as $3 billion this year.

The original projected deficit in the 2012-13 budget was $886 million.

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Redford said given the fluidity of world markets, the province is not making budget decisions based on one bad quarter.

She has promised to balance the budget by 2014.