The costs included agricultural subsidies and tax credits for natural gas drilling.
alberta government spending
The province’s current spending levels greatly exceed its tax revenues.
If it held the line on spending, the government could have run a $6.7 billion surplus in 2023/24.
It would be irresponsible for the Smith government to repeat the mistakes of past governments.
Alberta's fund was valued at just C$16.2 billion compared to US$65.3 billion for Alaska’s fund.
The province had the largest growth in government net debt in Canada from 2007/08 to 2021/22.
The province's net asset position deteriorated by nearly $23,000 per person between 2007 and 2021.
Governments in Alberta have a long history of increasing provincial spending during periods of high resource revenue, which inevitably leads to deficits once resource revenues decline.
As resource revenue began increasing, Alberta’s per-person government spending increased from $7,393 to $13,114.