Option of keeping more cash in Alberta Heritage Savings Trust Fund 'in the works' ableg abpoli
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They were speaking at a Wednesday legislature committee meeting to discuss the provincial rainy day fund’s second quarter 2022-23 report, which wasSign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
“The decision has not yet been laid down on paper formally, as far as the legislation goes, but it is in the works,” she said.to put $2.9 billion into the Heritage Savings Trust Fund.Article contentPremier Danielle Smith’s UCP reverse course, as the projected surplus shrunk slightly to $12.3-billion. Instead, $1.7 billion would be clawed back into the province’s general revenue fund.
For the Heritage Fund to retain the remaining $1.2 billion in 2021-22 net investment income without it automatically going into general revenue, legislation will need to change. Then-finance minister Jason Nixon said in August the government would amend the Alberta Heritage Savings Trust Fund Act, which currently says all income must go to general revenue except what is needed to inflation-proof the fund. Since then no legislation has been introduced.
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