The Alberta government is directing hundreds of millions of dollars from the proceeds of a settled lawsuit against Canada’s three largest tobacco companies into its Heritage Savings Trust Fund.
The payout, finalized last week, awards $24.7 billion to Canada’s provinces and territories. Alberta will receive approximately $3.1 billion of the settlement and got $713 million up front after deducting legal fees late last month in its first payment.
In a Sept. 9 statement to The Epoch Times, a spokesperson for Alberta’s Office of Treasury Board and Finance wrote that the initial $713 million was invested in July into the province’s Heritage Savings Trust Fund as part of a larger $2.8 billion contribution….