Alberta’s government is taking action to grow the Alberta Heritage Savings Trust Fund to at least $250 billion by 2050.

In 1976, former premier Peter Lougheed had the foresight to create what is today commonly called the Alberta Heritage Fund. The initial purpose of this fund was to invest a portion of Alberta’s non-renewable resource royalties each year so the investment interest earned in the fund would reduce the province’s reliance on resource revenues.

For decades, contributions to the Heritage Fund were limited and investment earnings were spent instead of being reinvested. Now, Alberta is adopting a bold, new plan to grow the Heritage Fund and achieve long-term growth and financial stability for the province. When the fund reaches its goal of $250 billion, the province can use a portion of the annual interest accrued to offset any decreases in resource royalties, invest in key provincial infrastructure and grow and protect the Alberta tax advantage.

The roadmap details how the “Alberta Model” will use three components to grow the fund to $250 billion and eventually fund public services and vital infrastructure:

• Strategic investments: There is a strong focus on opportunities that maximize growth while supporting areas that matter to Albertans, such as technology, energy and infrastructure.
• Global partnerships: The model benefits from working closely with like-minded organizations and investors around the world, to access premier opportunities and bring new ideas and expertise back to the province.
• Strong governance: The model is structured to ensure transparent and responsible investment management, so that every decision is made with the long-term interests of Albertans in mind.

“Albertans deserve a Heritage Fund they can rely on – one that is focused on creating long-term growth and financial stability. We owe it to future generations of Albertans. The new Heritage Fund will lessen our dependence on natural resource revenues, diversify our economy, and create both wealth and prosperity for generations to come.”

This plan builds on the vision of former premier Peter Lougheed and builds on the recent investments into the fund. As of September 2024, the Heritage Fund is worth $24.3 billion. With a $2-billion commitment from Budget 2024, the fund is projected to increase to more than $26 billion by the end of the 2024-25 fiscal year. If all of the Heritage Fund’s investment income had been reinvested since inception instead of being transferred to the general revenue fund, the Heritage Fund would be upwards of $250 billion today, generating about $20 billion annually.

Now is the time to take decisive action. By saving and reinvesting today, Alberta will reduce its reliance on unpredictable non-renewable resource revenue. A renewed Heritage Fund that earns money year over year will secure a resilient and prosperous Alberta for generations to come.

“Our plan to grow the Heritage Fund is about securing Alberta’s financial independence and providing stability for our children and grandchildren and build a lasting legacy for all Albertans.”

Strong governance is needed to provide direction, deliver high returns for Albertans, and ensure future growth amid changing economic conditions. To help achieve this and carry out the overall Heritage Fund plan, Alberta’s government has created the Heritage Fund Opportunities Corporation to govern and grow all Heritage Fund assets. The new corporation will strengthen partnerships with global sovereign wealth funds, thereby unlocking access to new opportunities. The new corporation will be assisted in its work by a world-class board of directors that will strengthen the governance of Heritage Fund assets and support investment decisions independent from government.

The Heritage Fund Opportunities Corporation will be chaired by Joe Lougheed.

“The Heritage Fund assets belong to Albertans – and future Albertans. The HFOC will have a world-class, independent board of directors providing oversight and guidance in an accountable and transparent fashion. Working closely with the Alberta Investment Management Corporation, the objective will be to deliver long-term growth of the assets of the Heritage Fund for future generations.  It is an honour to serve in this governance role.”

Related information

• Renewing the Alberta Heritage Savings Trust Fund: a roadmap to securing Alberta’s future

From LifeSiteNews

By Anthony Murdoch

Alberta Premier Danielle Smith said she will consider the findings of a report she commissioned that called for halting COVID shots for healthy children and teenagers, admitting there are questions about the “efficacy” of the jab in kids.

“I was pleased to see that we had a broad cross-section of doctors able to look at our previous COVID response, identify processes that were in place, identify things that may have gone wrong,” Smith said [24:50 min mark] while speaking to reporters on January 29.

Smith was responding to a question in response to the Alberta COVID-19 Pandemic Data Review Task Force’s “COVID Pandemic Response” 269-page final report released last week.

She said she is looking to “identify things that are now under question, like the efficacy of masks and the efficacy of this vaccine in children.”

Smith added that her government is “going to take a look at” the report’s findings and “obviously we’ll, we’ll make some decisions about whether to move forward on any of the recommendations.”

The report was commissioned by Smtih last year, giving the task force a sweeping mandate to investigate her predecessor’s COVID-era mandates and policies.

The task force’s final report was released last week. It recommended halting “the use of COVID-19 vaccines without full disclosure of their potential risks” as well as outright ending their use “for healthy children and teenagers as other jurisdictions have done,” mentioning countries like “Denmark, Sweden, Norway, Finland, and the U.K.”

Among the recommendations of the task force was the call to “(f)urther research to establish the safety and efficacy of COVID-19 vaccines is necessary before widespread use in adults and children,” the establishment of “a website and/or call-in center for the vaccine injured in Alberta” as well as establishing a “mechanism for opting out of federal health policy until provincial due process has been satisfied.”

The report also noted that “(c)hildren and teenagers have a very low risk of serious illness from COVID-19. COVID-19 vaccines were not designed to halt transmission and there is a lack of reliable data showing that the vaccines protect children from severe COVID-19.”

Earlier this week, LifeSiteNews reported how Alberta health minister Adriana LaGrange said she will “consider” the findings of a report published last week that recommends immediate halting COVID shots for healthy children and teenagers.

Smith: Doctors’ right to ‘speak their mind’ must be protected

While answering reporters’ questions on January 29, Smith also said the doctors in the province need to be able to “speak their minds without punishment from their colleges.”

“I think that’s going to be important too, otherwise, politicians only bad decisions,” she noted.

The report touched on how many doctors in Alberta who gave opposing views to the mainstream narrative regarding COVID jabs, masks, and the use of alternatives to treat the virus were wrongly vilified.

Smith mentioned that the point of the report was to find out what went wrong during COVID and to not repeat the same mistakes should there be another pandemic.

LifeSiteNews has published an extensive amount of research on the dangers of the experimental COVID mRNA jabs that include heart damage and blood clots.

The mRNA shots have also been linked to a multitude of negative and often severe side effects in children and all have connections to cell lines derived from aborted babies.

After becoming premier in late 2022, Smith promptly fired the province’s top doctor, Deena Hinshaw, and the entire AHS board of directors, all of whom oversaw the implementation of COVID mandates.

Under predecessor Jason Kenney, thousands of nurses, doctors, and other healthcare and government workers lost their jobs for choosing to not get the jabs, leading Smith to say – only minutes after being sworn in – that over the past year the “unvaccinated” were the “most discriminated against” group of people in her lifetime.