All resource revenue is typically included in the budget, creating volatility in provincial finances.
alberta finances
The costs included agricultural subsidies and tax credits for natural gas drilling.
The province’s current spending levels greatly exceed its tax revenues.
Alberta went from spending $61 per person on provincial debt interest costs to roughly $563.
The province's net asset position deteriorated by nearly $23,000 per person between 2007 and 2021.
The government should save some natural resource revenue to protect against future increases in debt.
The province's revenue will likely be even higher than forecast in Budget 2022.
Resource revenue will be $9.1 billion higher in 2022/23 than projected last year.
By contributing to the Heritage Fund, the government would essentially transform a share of onetime resource revenue into a financial asset.