The province is currently experiencing a windfall of resource revenue.
alberta sustainability fund
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.
By contributing to the Heritage Fund, the government would essentially transform a share of onetime resource revenue into a financial asset.
Alberta’s budget deficit will be $5.8 billion in 2021/22—$12.4 billion less than originally forecast.
By limiting the amount of resource revenue included in the budget, the fund could restore discipline to government spending.
Provincial program spending increased from $8,012 in 1999/00 to $10,618 by 2006/07.
In 2020/21, Alberta’s non-renewable resource revenue will comprise only 4.7 per cent of provincial revenue.