Here's how each UCP leadership candidate promises to allocate Alberta's huge surplus

Thanks in part to skyrocketing oil and gas prices, Alberta reported a surplus of $3.9 billion from last fiscal year leaving the yet-to-be-determined new leader of the United Conservative Party with a bevy of options for what to do with the cash.

We asked each of 10 candidates how they would manage or invest the surplus if they are chosen as UCP leader and premier of Alberta this fall. Most focused on three things: paying off debt, reinvestment and offering Albertans a break from inflation.

Leela Aheer

"I just think it's important to remember that this could be our very last oil boom. We just don't know," said Leela Aheer, UCP MLA for Chestermere-Strathmore who was punted from cabinet last year after criticizing Premier Jason Kenney.

She said managing the surplus in a responsible manner is key, and that it presents an opportunity to invest money into health care, education and the Heritage Savings Trust Fund, Alberta's main long-term savings fund that is currently valued at $20 billion.

Aheer said that in light of COVID-19, it's important to have those savings.

Brian Jean

The UCP MLA for Fort McMurray-Lac La Biche and former Wildrose leader said the highest priority is to pay off the province's debt, which hit $93 billion on March 31.

Jean said a second priority would be to "alleviate the burden of high inflation on Albertans through ways that don't cost the government a fortune," such as by using interest from the surplus to reduce transmission and distribution charges on electricity bills.

While Jean said he is committed to fixing health care, he added he'd rather better manage the budget to pay for it than put more money in.

Todd Loewen

"We need to focus on repaying the debt and not increasing operational spending, because when the surpluses aren't there any more, then we just accumulate more debt," said Todd Loewen, Independent MLA for Central Peace-Notley.

He said his position is that it would be best to find efficiencies to spend money more effectively on health care.

"If we look at what we're spending for health care right now, we're spending a lot and the services that we get aren't, I don't think, up to par for what we're spending."

In terms of measures for affordability, he said one thing to look at would be lowering taxes for the middle class.

Rajan Sawhney

Former transportation minister Rajan Sawhney said that a portion of the surplus would go into the Heritage Savings Trust Fund and a portion would be put toward paying off debt.

To help affordability, she said her plan is to start indexing for programs like age and seniors benefits, and start reindexing tax brackets.

"It helps with the tax burden with everyday Albertans and also it helps the vulnerable populations as well."

Rebecca Schulz

"We need a very specific plan and predictable plan so that Albertans know that their government is both committed to paying down the debt, to investing in the Heritage Savings Trust Fund, but also addressing the issues that everyday Albertans are facing which right now is affordability," said Schulz, who resigned her post as minister of children's services to kick off her leadership bid.

Raj Sherman

Emergency room physician and former Alberta Liberal Party leader Raj Sherman said that investing in health care and education — both K-12 and post-secondary — is key.

"We have a big social debt right now. Health care is in crisis," said Sherman. "We need more nurses, more front line staff … more family doctors in our province."

Danielle Smith

Former Wildrose leader Danielle Smith said the strategy to managing the surplus would be to have a long-term debt repayment plan.

"I think what we have to realize is we got lucky this year — that high oil and gas prices and royalty revenues bailed us out," she said. "But I think our most immediate priority is [Albertans who are] worried about affordability."

She said she wants to put measures in place to combat rising costs of gas, diesel and electricity.

Travis Toews

"Balanced budgets don't happen by accident — it takes hard work and a commitment to sound fiscal principles. We cannot continue to burden our children and grandchildren with a debt that they did not incur," said Travis Toews, who was the first candidate to officially join the leadership race, in an emailed statement.

"As leader of the UCP and premier, I will work to bolster Alberta's savings and to pay down the debt in a responsible way so that future generations are not left paying for our mistakes."

Jon Horsman, who is launching his leadership campaign July 5, said by email that his first campaign announcement will address managing the surplus.

Candidate Bill Rock, mayor of Amisk, Alta., did not respond to CBC's requests.

The leadership vote is scheduled for Oct. 6.