Since its 2022 mid-year fiscal update, the government has increased program spending by $10.1 billion.
alberta sustainability fund
It’s Time to Get Off the Resource Revenue Rollercoaster: Re-establishing the Alberta Sustainability Fund
The idea is simple—save during good times to help avoid deficits during bad times.
Successive governments have perpetuated the boom-bust cycle of provincial finances.
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.
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.
The province's revenues could be up to $28 billion higher over the next two years.
According to recent forecasts, the province's resource revenue will likely be higher than forecast in Budget 2022.