The big income tax break promised by the UCP will come late.

Four years late, to be exact. The full tax relief won’t kick in until 2027.

It was supposed to happen for the 2023 tax year; right now, as Albertans file their tax returns.

That’s what voters had every reason to expect when Premier Danielle Smith made the promise in last year’s election campaign.

“This means every Albertan earning $60,000 or more will save $760 — that’s over $1,500 per family,” she trumpeted in a campaign announcement.

“These tax cuts will provide meaningful, timely tax relief to Albertans at a time when they need it most.”

Not a word was said about delaying or staging the relief.

Reality hit with Thursday’s budget.

Suddenly, the tax cut is not so timely and we won’t need it most until 2027.

Smith and Finance Minister Nate Horner started waffling about this key campaign promise late last year.

Finances were tougher than we thought, they said.

In December, Horner was still saying some relief might come this year.

Now it’s all clear. Not until 2026 will the tax rate drop a single point, to nine per cent.

That will bring half the promised relief, resulting in breaks of about $350 for individuals and $750 for families.

Only in 2027 will the rate drop to eight per cent, the level of the original........

© Calgary Herald