"We will reduce our dependency on energy revenue by year four and five."
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Governments, like families, have choices. And governments, as with families, sometimes make picks that close off other options. Spend a lot of money on having dinner out every night and that might foreclose the purchase of a nicer automobile.
EDMONTON - The Alberta government says its nest egg earned $2.1 billion in the last fiscal year — a 16 per cent rate of return.The value of the Heritage Savings Trust Fund now sits at $17.5 billion.Mo...
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.
There is little doubt of the severity of the financial difficulties facing Alberta. In many ways it's the late 1980s all over again. Alberta has again squandered a period of pronounced prosperity and ended up with unsustainable deficits, the likelihood of mounting debt, and no savings.
CALGARY - A report from the Fraser Institute suggests Alberta is doing little to save for a rainy day through its Heritage Savings and Trust Fund.The independent, fiscally conservative think-tank says...
B.C.'s proposed Prosperity Fund is meant to capitalize on the future opportunities from natural gas development. If done correctly, the fund could be a huge benefit to both current and future British Columbians. As with many things though, the devil is in the details. Thankfully there are lessons to be learned, and avoided, from our neighbours, Alberta and Alaska.
If Canada doesn't wake up soon, the world as we know it, and all our most easily harvested non-renewable resources -- including fish, according to Dr. Boris Worm -- will be gone before 2050.Me? I'll be gone by then, too. And other than buying a hybrid car, I'm officially out of answers for my kids. How about you?