Alberta’s Heritage Savings Trust Fund has reached an all-time high of $30 billion after a $2.8 billion contribution from the province’s 2024-25 surplus, the government announced Friday.Premier Danielle Smith called the milestone a bold step toward securing Alberta’s future. “By growing the Heritage Fund, we’re strengthening core services like health care and education, while preserving the low-tax Alberta advantage,” she said. “This $2.8 billion boost sets the province on the path to success and puts Albertans first.”.The Alberta government aims to grow the fund to $250 billion by 2050. Once that target is reached, annual interest will be used to stabilize volatile resource revenue, spend on infrastructure, and help maintain Canada’s lowest tax environment.Nate Horner, President of Treasury Board and Minister of Finance, said the move “strengthens Alberta’s financial stronghold” and is a key part of building a “prosperous future with stable revenues and competitive taxes.”The province recently launched a long-term strategy titled Renewing the Alberta Heritage Savings Trust Fund: A Roadmap to Securing Alberta’s Future, outlining plans to grow the fund through strategic spending, global partnerships, and modernized governance. .Central to that plan is the Heritage Fund Opportunities Corporation, chaired by Joe Lougheed, which will steer investment decisions independently from government and connect Alberta to international financial opportunities.“Our role is to ensure the Heritage Fund is managed with the highest standards of governance and independence,” said Lougheed.According to the province, the fund has grown more than 84% since 2019-20, when it sat at $16.3 billion, and over 41.5% since 2022-23, when it was valued at $21.2 billion.The board overseeing the fund includes Alberta-based directors as well as international members from Switzerland and Finland.
