New legislation to simplify Alberta’s savings plan demonstrates the Alberta government’s commitment to sound, conservative fiscal principles.
The Alberta government is simplifying its savings plan by eliminating a special purpose fund and two endowment accounts that were established in spring 2014. The changes will help preserve Alberta’s long-term savings and ensure any spending is fully transparent and reflects the priorities of taxpayers.
Bill 11, the Savings Management Repeal Act, eliminates the Alberta Future Fund, the Social Innovation Endowment account, and the Agriculture and Food Innovation Endowment account. The $2 billion in Heritage Fund savings that would have been allocated to the Alberta Future Fund will remain in the Heritage Fund.