The province plans to spend $13.9 billion more over two fiscal years than originally planned in mid-year 2022.
alberta's finances
Since the Heritage Fund's inception, in most years the government has made no contributions to the fund.
The province's debt interest costs increased from $61 per person in 2007/08 to a projected $672 per person in 2023/24.
In 2022/23, Alberta's program spending was $13,570 per person, more than $1,200 higher than Ontario.
Young Albertans are paying the price today for the past 15 years of government debt accumulation.
The province’s debt interest costs have increased from $61 per Albertan in 2007/08 to a projected $672 per Albertan in 2023/24.
Every US$1 decline in oil prices reduces government revenues by an estimated $630 million.
The government will spend $2,401 more per person than planned in Budget 2022.
From 2008/09 to 2020/21, the province racked up $60 billion in provincial net debt.