Sunday, June 15, 2008

Alberta In For Record Surplus

While Alberta only estimated for $1.6 Billion surplus this year it looks like high gas prices will bump that sum up another $10 Billion. Not exactly loose change you find in the couch.

One third of the funds will be alloted to savings while the other two thirds are to build and maintain capital projects. The main worry is that windfalls like these will be used up and when Alberta's non-renewable resources , oil-sands and natural gas, are depleted the big windfalls of the boom years will be only a distant memory.

To plan for future generations the province set up a provincially appointed Financial Investment and Planning Advisory Commission whose recommendations to the government on how it should invest petroleum riches for the future include long term savings plans.

"Make sure the money that is coming in at this time isn't just viewed as something that's good for the current generation..." Financial Investment and Planning Advisory Commission chairman Jack Mintz

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