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EDMONTON — The NDP government put its imprint on Alberta’s wallet Thursday, spending $624 million on schools, hospitals, and social care and introducing a bill to increase taxes on large businesses and the wealthy.

The bill, tabled by Finance Minister Joe Ceci, proposes increasing the tax rate on large corporations to 12 per cent from 10 per cent effective July 1.

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It also moves to hike income taxes on anyone making more than $125,000 a year effective Oct. 1.

The tax changes are forecast to bring in up to $800 million in this fiscal year and up to $1.5 billion in the next.

Ceci said the changes will not have an impact on 93 per cent of Alberta’s tax filers.

He said while it’s not ideal to introduce tax changes mid-year, it was important to move immediately to make Alberta’s fiscal foundation more secure and fair.