Government has been clear that it does not make sense to borrow money for the Future Fund, especially at a time when people are facing a higher cost of living and having trouble setting essential services.
The Future Fund was established in 2023 with the intention of setting aside money each year to strengthen the province’s finances and service debt. Now, government is looking at changing it. Finance Minister Craig Pardy introduced amendments to the Future Fund Act in the House of Assembly this week. The goal is to change the fund to suit government’s aim to spend smarter. Government has been clear that it does not make sense to borrow money for the Future Fund, especially at a time when people are facing a higher cost of living and having trouble setting essential services. The amendments would remove the mandatory contributions and limit the ability to withdraw funds, while ensuring that funds are used towards debt. Minister Pardy says “we are ensuring that every dollar set aside is used to reduce our debt and strengthen the province’s fiscal future.”
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