They committed to I think $2 billion in the budget for savings, so it sounds like instead of going to the Alberta Heritage Savings Trust Fund(AHSTF), it'll go to Heritage Fund Opportunities Corporation (HFOC). It kinda seems like there are limitations to how the AHSTF can be used that the UCP doesn't like, so they are starting a new fund so they don't have to follow those restrictions. And any time a government has to make an end-run around rules meant to protect citizen dollars, you should probably worry about citizen dollars.
I suspect in a year or two we will hear about how all deposits will go to HFOC now, and AHSTF will be a legacy fund surviving on existing investments. And in about 10 years we will hear about how terrible an idea this turned out to be.
|