The province last year had the 10th-highest top combined income tax rate among 61 North American jurisdictions.
alberta government finances
If the government made this change, approximately 2.3 million Albertans would save $1,573 per year (on average).
The province plans to spend $13.9 billion more over two fiscal years than originally planned in mid-year 2022.
The government should learn from past experience and ensure new rules about the fund are constitutional.
Program spending from 2023/24 to 2025/26 will be $6.4 billion higher than projected just three months ago.
Since the Heritage Fund's inception, in most years the government has made no contributions to the fund.
In 2022/23, Alberta's program spending was $13,570 per person, more than $1,200 higher than Ontario.
Every dollar that goes towards debt repayment is a dollar unavailable for important services or tax relief.
Young Albertans are paying the price today for the past 15 years of government debt accumulation.