News Release
Putting Alberta’s growing savings to work for our future
Bill 1 creates the largest social innovation endowment in Canada, supports agriculture innovation and apprentices, and saves for future strategic opportunities.
The Alberta government is creating two new endowments to provide funding for social and cultural innovation, and agricultural innovation. Bill 1 enhances the Alberta Heritage Scholarship Fund to support Alberta’s apprentices and also establishes the Alberta Future Fund, which will provide the government with the financial resources to take full advantage of new opportunities in the future.
“Growing our savings accounts for the first time in 25 years was a promise I made to the people of Alberta. We have a legislated plan to do that and it’s working. Under the next phase of the Building Alberta Plan, we will put our savings to work to support a stronger, more diverse economy in the future, ensuring Alberta remains Canada’s economic engine for decades to come.”
– Alison Redford, Premier
“Albertans have told me they would like to do more with our savings. Bill 1 allows us to take a portion of our savings, which we are committed to growing each and every year, and do something meaningful for Albertans today and future generations.”
– Doug Horner, President of Treasury Board and Minister of Finance
“Alberta needs to challenge our traditional thinking when it comes to making sure Albertans have every opportunity to succeed. The $1 billion Social Innovation Endowment is Canada’s largest and will drive the creation of the new ideas we need to address issues like reducing poverty and family violence.”
– Dave Hancock, Deputy Premier and Minister of Innovation and Advanced Education
“Innovation and diversification in all of our sectors are key to Alberta’s long-term success. Nowhere is that more true than in agriculture, already Alberta’s second-largest industry. The Agriculture and Food Innovation Endowment will help us get made-in-Alberta agriculture solutions to market around the world.”
– Verlyn Olson, Minister of Agriculture and Rural Development
The endowments and the Alberta Future Fund will be allocated funds from within the Alberta Heritage Savings Trust Fund. The total combined allocation for 2014-15 is $1.1 billion.
Under the Building Alberta Plan, our government is investing in families and communities, living within our means, and opening new markets for Alberta’s resources to ensure we’re able to fund the services Albertans told us matter most to them. We will continue to deliver the responsible change Albertans voted for.
Pinoy Edmonton News 