The idea is simple—save during good times to help avoid deficits during bad times.
alberta heritage fund
Future governments can easily and unilaterally change any law passed by the legislature.
The province will run a projected $12.3 billion budget surplus this fiscal year.
Alberta's fund was valued at just C$16.2 billion compared to US$65.3 billion for Alaska’s fund.
In 2022/23, resource revenue is projected to be $28.4 billion, the highest level on record.
As resource revenue began increasing, Alberta’s per-person government spending increased from $7,393 to $13,114.
The province went from spending $61 per person on provincial debt interest to roughly $562.
The province is currently experiencing a windfall of resource revenue.
According to recent forecasts, the province's resource revenue will likely be higher than forecast in Budget 2022.