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Jan 29, 2025 7:51 PM - Connect Newsroom

Premier Danielle Smith to announce new provincial fund today

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Smith’s government has promised to cut interest on the province’s general revenue each year and increase investment.(Photo: The Canadian Press)

Alberta Premier Danielle Smith will announce a new provincial fund today. Her government says it will increase the Heritage Savings Trust Fund from $250 billion to $400 billion by 2050. Finance Minister Nate Horner will also be in Calgary with her.

Smith’s government has promised to cut interest on the province’s general revenue each year and increase investment. The fund was started in 1976 by former Premier Peter Lougheed to set aside revenue, but successive governments have begun to withdraw money from it.

It was valued at $23.4 billion as of September, and Horner has promised to add $2 billion more.

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