May 6, 2009

Alberta plans savings bonds to fund infrastructure projects

EDMONTON

Details on a savings bond program for Albertans to fund infrastructure projects will be coming in the next few weeks, Premier Ed Stelmach says.

“Albertans have tremendous confidence in not only the economy of the province but also in its future prosperity and I know in speaking with so many that they’re looking for an opportunity to participate,” he said.

Stelmach said he’s received positive feedback since raising the idea a few weeks ago.

“We will be working out the details, not that it’s complex, but we want to make sure we get it right, and there’s been a number of ideas that have been floated, but it will be for infrastructure, be very clear, not operating,” he said.

“Much of the advice I have been receiving, which I agree with, is that it should be project-specific ... there’s tremendous opportunity and we’ll have more details in the next few weeks.”

He wouldn’t give a total dollar amount for the bonds.

“We’ll start very prudently, reasonably, but in speaking to many of the people both academics and people who raise funds, fund managers, they know there’s tremendous opportunity in Alberta to raise funds for infrastructure.”

The idea of selling the public savings bonds to help finance building projects dates back to the Depression.

Canadian Press

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