This year, program spending will reach a projected $14,334 per Albertan, which is $1,603 higher than the original plan.
alberta's finances
Compared to the government’s 2022 mid-year plan, it will spend $6.1 billion more in 2023/24.
The province plans to spend $13.9 billion more over two fiscal years than originally planned in mid-year 2022.
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.