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Alberta Heritage Savings Trust Fund
The Alberta Heritage Savings Trust Fund (HSTF) is a sovereign wealth fund established in 1976 by the Government of Alberta under then-Premier Peter Lougheed. The Heritage Savings Trust Fund was created with three objectives: "to save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans." The operations of the Heritage Savings Trust Fund are subject to the ''Alberta Heritage Savings Trust Fund Act'' and with the goal of providing "prudent stewardship of the savings from Alberta's non-renewable resources by providing the greatest financial returns on those savings for current and future generations of Albertans." Between 1976 and 1983 the Government of Alberta deposited a portion of oil revenue into the fund. The Heritage Savings Trust Fund used oil revenues to invest for the long term in such areas as health care, education and research and as a way of ensuring that the development of non-renewable resources would be of long-term ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Building, Edmonton
The Queen Elizabeth II Building, previously known as the Federal Public Building, is an eleven-storey Art Deco building in downtown Edmonton, Alberta. Built with granite and Tyndall stone, the building is located in the northeast corner of the Alberta Legislature grounds, overlooking the Capital Plaza. It hosts provincial government employees and Members of the Legislative Assembly (MLA), and is considered one of Edmonton's most significant modern buildings. Designed in 1939 by a local architect, the building's construction was delayed by the outbreak of World War II, and took place from 1955 to 1958. It was originally owned by the Government of Canada and hosted its offices for Western Canada until 1988, when the government relocated its staff to Canada Place. The Government of Alberta acquired the property in 1983, anticipating the relocation; it sat vacant following the relocation. Major renovations were undertaken starting from 2009, with offices opening for use in early 2015 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gordon Miniely
Gordon T. Miniely (born October 25, 1939) was a politician from Alberta, Canada. Miniely was elected to represent the electoral district of Edmonton-Centre for the Progressive Conservatives in the 1971 Alberta general election. He served two terms the assembly before retiring in 1979. Miniely served in the cabinet under Premier Peter Lougheed Edgar Peter Lougheed ( ; July 26, 1928 – September 13, 2012) was a Canadian lawyer and Progressive Conservative politician who served as the tenth premier of Alberta from 1971 to 1985, presiding over a period of reform and economic growth. Bo .... His portfolios were Provincial Treasurer and Minister of hospitals and medical care. References External linksGordon Miniely guest introduction, Alberta Legislative Assembly April 20, 2004 [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Diversity
Economic diversity or economic diversification refers to variations in the economic status or the use of a broad range of economic activities in a region or country. Diversification is used as a strategy to encourage positive economic growth and development. Research shows that more diversified economies are associated with higher levels of gross domestic product. Diversification types # Non-connected diversification - creating a new area. The process is slow, because it is needed to create a whole infrastructure, but the profit would be higher. # Connected diversification is based on an economical mechanism for expanding the available potential. For business development it means low risks and good margin. # Combined diversification - more frequently both methods are used together. Diversification examples in countries Good examples of national economy diversification are Chile, Malaysia and Brazil. See also *Diversification (finance) *Diversification (marketing strategy) *Comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royalty Payment
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.Guidelines for Evaluation of Transfer of Technology Agreements, United Nations, New York, 1979 A royalty interest is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchising, franchise agreements have comparable p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-renewable Resource
A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. An example is carbon-based fossil fuels. The original organic matter, with the aid of heat and pressure, becomes a fuel such as oil or gas. Earth minerals and metal ores, fossil fuels (coal, petroleum, natural gas) and groundwater in certain aquifers are all considered non-renewable resources, though individual elements are always conserved (except in nuclear reactions, nuclear decay or atmospheric escape). Conversely, resources such as timber (when harvested sustainably) and wind (used to power energy conversion systems) are considered renewable resources, largely because their localized replenishment can occur within time frames meaningful to humans as well. Earth minerals and metal ores Earth minerals and metal ores are examples of non-renewable resources. The metals themselves are presen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consolidated Fund
In many states with political systems derived from the Westminster system, a consolidated fund or consolidated revenue fund is the main bank account of the government. General taxation is taxation paid into the consolidated fund (as opposed to hypothecated taxes earmarked for specific purposes), and general spending is paid out of the consolidated fund. The British Consolidated Fund Establishment The British Consolidated Fund was so named as it consolidated together a number of existing accounts, detailed below, and facilitated proper parliamentary oversight of the spending of the executive; it was defined as "one fund into which shall flow every stream of public revenue and from which shall come the supply of every service". The Treasury established this account, formerly known as The Account of His Majesty's Exchequer, at the Bank of England where it remains to this day, and the legal term "Consolidated Fund" refers to the amount of credit held in this particular account ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CanLII
The Canadian Legal Information Institute (CanLII; french: Institut canadien d'information juridique) is a non-profit organization created and funded by the Federation of Law Societies of Canada in 2001 on behalf of its 14 member societies. CanLII is a member of the Free Access to Law Movement The Free Access to Law Movement (FALM) is the international movement and organization devoted to providing free online access to legal information such as case law, legislation, treaties, law reform proposals and legal scholarship. The movement b ..., which includes the primary stakeholders involved in free, open publication of law throughout the world. Background CanLII offers free public access to over 2.4 million documents across more than 300 case law and legislative databases. It is used by lawyers, legal professionals and the general public, with usage averaging over 30,000 visits per day. The case law database is reportedly growing at a rate of approximately 120,000 new cases each y ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Assent
Royal assent is the method by which a monarch formally approves an act of the legislature, either directly or through an official acting on the monarch's behalf. In some jurisdictions, royal assent is equivalent to promulgation, while in others that is a separate step. Under a modern constitutional monarchy, royal assent is considered little more than a formality. Even in nations such as the United Kingdom, Norway, the Netherlands, Liechtenstein and Monaco which still, in theory, permit their monarch to withhold assent to laws, the monarch almost never does so, except in a dire political emergency or on advice of government. While the power to veto by withholding royal assent was once exercised often by European monarchs, such an occurrence has been very rare since the eighteenth century. Royal assent is typically associated with elaborate ceremony. In the United Kingdom the Sovereign may appear personally in the House of Lords or may appoint Lords Commissioners, who announce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
18th Alberta Legislature
The 18th Alberta Legislative Assembly was in session from May 15, 1975, to February 14, 1979, with the membership of the assembly determined by the results of the 1975 Alberta general election held on March 26, 1975. The Legislature officially resumed on May 15, 1975, and continued until the fourth session was prorogued on November 3, 1978 and dissolved on February 14, 1979, prior to the 1979 Alberta general election on March 14, 1979. Alberta's eighteenth government was controlled by the majority Progressive Conservative Association of Alberta for the second time, led by Premier Peter Lougheed. The Official Opposition was led by Robert Curtis Clark of the Social Credit Party. The Speaker was Gerard Amerongen who would serve in the role until he was defeated in the 1986 Alberta general election. Second session During the second session the government introduced ''The Alberta Heritage Savings Trust Fund Act'' (Bill 35) creating a sovereign wealth fund A sovereign wealth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Majority Government
A majority government is a government by one or more governing parties that hold an absolute majority of seats in a legislature. This is as opposed to a minority government, where the largest party in a legislature only has a plurality of seats. A government majority determines the balance of power. A majority government is usually assured of having its legislation passed and rarely if ever, has to fear being defeated in parliament, a state is also known as a working majority. In contrast, a minority government must constantly bargain for support from other parties in order to pass legislation and avoid being defeated on motions of no confidence. Single-party majority governments tend be formed in the aftermath of strong election performances. The term "majority government" may also be used for a stable coalition of two or more parties to form an absolute majority. One example of such an electoral coalition is in Australia, where the Liberal and National parties have run as an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the bank plays the role of the borrower. Interest diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Alberta
The economy of Alberta is the sum of all economic activity in Alberta, Canada's fourth largest province by population. Alberta's GDP in 2018 was CDN$338.2 billion. Although Alberta has a presence in many industries such as agriculture, forestry, education, tourism, finance, and manufacturing, the politics and culture of the province have been closely tied to the production of fossil energy since the 1940s. Alberta—with an estimated 1.4 billion cubic metres of unconventional oil resource in the bituminous oil sands—leads Canada as an oil producer. In 2018, Alberta's energy sector contributed over $71.5 billion to Canada's nominal gross domestic product. According to Statistics Canada, in May 2018, the oil and gas extraction industry reached its highest proportion of Canada's national GDP since 1985, exceeding 7% and "surpass ngbanking and insurance" with extraction of non-conventional oil from the oilsands reaching an "impressive", all-time high in May 2018. With conventi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
