In 2022/23, resource revenue is projected to be $28.4 billion, the highest level on record.
As resource revenue began increasing, Alberta’s per-person government spending increased from $7,393 to $13,114.
The Alberta government has not contributed any resource revenue to the Heritage Fund since 1986/87.
By limiting the amount of resource revenue included in the budget, the fund could restore discipline to government spending.
If Alberta had followed Alaska’s model, Albertans could have received $101.5 billion in dividends.
In 2020/21, Alberta’s non-renewable resource revenue will comprise only 4.7 per cent of provincial revenue.
Albertas provincial government has provided plenty of political theatre as of late, with, as I write, three resignations from the government, including that of Alison Redford as premier. However, the Redford resignation may not be the end of her influence on Albertas future, and in particular, upon the Alberta Heritage Savings and Trust Fund.
If there was ever a place that was the anti-Greece when it comes to public finances, it must be Alberta. Compare Alberta to many places around the world, be it European fiscal disasters, or even nearer to home, and in most decades, Alberta shines in comparison.