From AB Tory Party:
Alberta is falling behind — and it shouldn’t be.
For 50 years, the Alberta Heritage Savings Trust Fund has been our province’s anchor. It is much more than just a rainy-day fund. It is the foundation of our wealth. It earns the interest that pays for our hospitals and schools, keeping our taxes low and our future secure.
But right now, that foundation is being gambled with.
The government is using confusingly similar names to hide a dangerous "bait and switch." They want you to believe the original Alberta Heritage Savings Trust Fund and their new Heritage Fund Opportunities Corporation are the same thing.
They are not.
One is the safe, rock-solid fund we have trusted since the 1970s. The other is a risky new plan that moves $32 billion of your savings into a structure that removes the safety rules we’ve used for decades and opens the door to political interference.
This is concerning because the new fund is designed to "de-risk" projects. That is a fancy way of saying the government uses your life savings to back up risky ventures that private banks have already turned down. When a project is too dangerous for a bank, it shouldn't be funded by your life savings. If these gambles fail, the politicians don't lose — you do. You lose the money that secures Alberta’s future, and our children will be left to pay the price.
The Tory Party believes in transparency and responsible stewardship. Albertans should know exactly where their money is going. We are committed to protecting what you have worked so hard to build. We will grow the original Heritage Savings Trust Fund to $250 billion by 2050 using steady, disciplined investing. We will restore the strict guardrails and open reporting that keep your savings safe from political games.
Leading a province is about more than making bets. It is about telling the truth and ensuring Alberta stays strong for generations to come.
EDIT: Here's a graphic from the Fraser Institute, I can't speak to how accurate it is:
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