The Alberta government has not contributed any resource revenue to the Heritage Fund since 1986/87.
alberta heritage fund
By contributing to the Heritage Fund, the government would essentially transform a share of onetime resource revenue into a financial asset.
By limiting the amount of resource revenue included in the budget, the fund could restore discipline to government spending.
If Alberta had followed Alaska’s model, Albertans could have received $101.5 billion in dividends.
In 2020/21, Alberta’s non-renewable resource revenue will comprise only 4.7 per cent of provincial revenue.
BCs governing Liberals presented a Throne Speech recently that included an unexpected announcement: the creation of a BC Prosperity Fund similar in concept to Albertas Heritage Fund. BCs fund is meant to capitalize on the future opportunities from natural gas development. If done correctly, the Prosperity Fund could be a huge benefit to both current and future British Columbians. As with many things though, the devil is in the details.