Alberta’s government is taking decisive action to restore the Heritage Fund

n 1976, Premier Peter Lougheed established our province’s sovereign wealth fund—the Alberta Heritage Savings Trust Fund (AHSTF) aimed to save for the future, strengthen our economy, and improve the quality of life for Albertans. Since then, Alberta’s government has embraced that mandate to provide prudent stewardship of the savings from Alberta’s natural resources.
Alberta’s government aims to reinforce and bring our sovereign wealth fund up to a level shared by other jurisdictions and have met with the owners of some of the largest and most successful sovereign wealth funds in the world. Engaging in this outreach is critical to gathering the expertise necessary to deploy a modern, sophisticated approach to the building of the AHSTF.
With the planning stage completed, our government has a comprehensive plan in place centered around leaving the bulk of the funds inside the AHSTF and allowing them to grow. If properly managed, this sovereign wealth fund can mitigate, reduce, or even eliminate our economic reliance on the energy sector. Given the current geopolitical climate, and the uncertainty of trade beyond our jurisdiction, any force which may lessen the effects of slowdowns, or difficulties in the oil sector can only benefit Alberta’s economy.
Deposits made to the Alberta Heritage Savings Trust Fund will consist of a portion of money earned from the oil and gas sector. Having this type of foundational wealth in our province will provide Albertans with the flexibility to not just survive but thrive through any conceivable situation that may unfold in the province, our country or globally.
Alberta’s plan to grow the Heritage Fund to $250 billion by 2050 is a bold and necessary step toward securing long-term financial stability for our province. By establishing the Heritage Fund Opportunities Corporation, Alberta is creating a world-class governance structure that will operate independently from government, ensuring high returns and strategic reinvestment. This approach will allow Alberta to access top-tier investment opportunities, following the lead of successful sovereign wealth funds around the world. Most importantly, it will help reduce our reliance on volatile resource revenues and build a sustainable financial legacy for generations to come.
Alberta’s government is taking decisive action to restore the Heritage Fund to its intended vision—saving prosperity today to ensure a thriving Alberta tomorrow. With an initial $2 billion deposit and a clear roadmap for growth, we are securing Alberta’s financial future while maintaining a strong, responsible approach to economic management. This plan is about more than just numbers; it’s about ensuring that Alberta remains resilient, prosperous, and prepared for whatever challenges and opportunities lie ahead.
As always, please do not hesitate to reach out to my office with your feedback and concerns at chestermere.strathmore@assembly.ab.ca