Alberta's premier has a treat for residents and businesses in the province.

As part of Monday's Throne Speech, the government introduced Bill 1, which will require a referendum for any future tax hikes.

"Alberta needs growth to create good jobs and opportunity, Alberta needs investment to diversify its economy and reduce emissions and Albertans need to keep more of what they earn as inflation continues to eat away at their spending power," said Premier Danielle Smith.

Premier Smith says the act already bans the introduction of a sales tax without a referendum and the Alberta Taxpayer Protection Amendment Act, strengthens that.

Alberta's general corporate income tax rate is eight per cent, 30 per cent lower than the next lowest province. 

The provincial corporate income tax revenue in 2022-23 was $8.2 billion, the most the province has ever recorded in a single fiscal year. 

The Throne Speech also promised more investment in carbon capture, storage and utilization along with future incentives to homeowners to install solar panels to relieve pressure on the grid during peak demand.

She says the pause on new wind and solar applications will end at the end of February and it will not be extended.

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