Program spending from 2023/24 to 2025/26 will be $6.4 billion higher than projected just three months ago.
alberta budget
Since the Heritage Fund's inception, in most years the government has made no contributions to the fund.
Every dollar that goes towards debt repayment is a dollar unavailable for important services or tax relief.
The province’s debt interest costs have increased from $61 per Albertan in 2007/08 to a projected $672 per Albertan in 2023/24.
The government has increased program spending by nearly $10 billion since its original plan in 2022.
When resource revenue is relatively high, the government faces pressure to increase spending.
If it held the line on spending, the government could have run a $6.7 billion surplus in 2023/24.
Program spending is projected to be $4.2 billion higher in 2023/24 than budgeted just a few months ago.
Successive governments have perpetuated the boom-bust cycle of provincial finances.