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Alberta Premier-designate Rachel Notley addresses the media in front of her caucus in Edmonton, Alta., on Saturday, May 9, 2015.JASON FRANSON/The Canadian Press

The 53 legislators elected to form Alberta's first New Democrat government met for the first time on Saturday as Premier-designate Rachel Notley promised stability and set out her priorities for the next four years.

On Ms. Notley's agenda is a pledge to build a more diversified economy in conjunction with Alberta's business leaders, more support for seniors and health care, the stabilization of the province's revenue through more progressive taxes and increased funding for children and education.

"This morning, our caucus is meeting to roll up our sleeves and get down to work for the people of our province," she said in front of Government House in Edmonton.

The premier-designate said she intends to "work closely with partners in business and in industry" as her government looks to grow the province's economy. Energy shares tumbled on Canada's main stock market for two days after the NDP win.

Ms. Notley has been critical of Alberta's growing inequality, saying that not all Albertans have shared in the benefits of boom times. Her government has pledged to review royalties and increase corporate taxes by two percentage points.

The NDP won a historic victory in the province last Tuesday, winning most of Alberta's urban seats and collecting a number of rural ridings. The win put an end to nearly 44-years of Progressive Conservative rule and saw the quick resignation of Premier Jim Prentice as Tory Leader.

The Tory party faced a number of troubles over the past decade, going through four premiers since 2006, and posting a string of deficits despite years of record energy prices.

Facing a plunge in oil prices that created a $7-billion shortfall in government revenue over the coming year, Mr. Prentice called a snap election in early April and ran on a plan to increase taxes and cut spending while still posting a record deficit. His party has now been reduced to third place, with only 10 seats.

Ms. Notley has promised to end the years of back-pedalling and abandoned plans that she has said characterized the last decade of the Tory government. "Now and throughout my term as premier, our government will deliver the stable and consistent leadership that our province absolutely needs," she said.

As she now works to cobble together a cabinet, find a speaker and write a budget, questions have been raised about whether Ms. Notley has enough competent MLAs to properly govern. Including the incoming premier, only four NDP MLAs have ever set foot in the legislature as law-makers—none has been in a cabinet. While her team includes doctors and university professors, it also includes a number of university students and retirees.

"We are the youngest province in the country. Together in Alberta we are diverse, we are welcoming, and we are proud to be Albertans. Now, Albertans have a new government that actually reflects that remarkable diversity," Ms. Notley said.

She quickly added: "I feel very old all of a sudden." The median age of her caucus is 40, close to Alberta's median. Ms. Notley is 51.

With 28 men and 25 women, Alberta's new government is also the closest to hitting gender parity.

"The important thing to remember is that this caucus looks like Alberta and has the same experience as Albertans," said Shannon Phillips, the newly-elected MLA for Lethbridge West. "I think it's delightful."

The NDP caucus could add another MLA as ballots are being counted in Calgary-Glenmore. A PC incumbent and NDP challenger tied with 7,015 votes each. Elections Alberta will announce the results on May 15.

On Saturday the new MLAs faced a heavy schedule of meetings throughout the day. Between long meet-and-greets were sessions to learn about the duties of an MLA and the functioning of Alberta's government. There were also sessions to discuss the party's vision for power.

"The biggest part is getting the lay of the land," said David Shepherd, the newly elected MLA for Edmonton-Centre. "We're taking the opportunity to get to know everyone on the team."

Tory President Terri Beaupre broke her party's silence following its electoral defeat with a message to supporters on Friday.

"It's not going to be easy, and it's not going to happen overnight but this is not the end of PC Alberta," she wrote. "We will pull up our boot straps, and will be back leading this province in the future."

The party is waiting for five recounts in closely contested ridings to finish before proceeding with the selection of an interim leader by the remaining caucus. Ms. Beaupre says "strong candidates" have come forward. Despite having no leader, the party is going forward with a $500-a-plate fundraiser in Calgary next Thursday.

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