Provincial Wealth Fund & Resource Revenue Act
Category: Economy — Economy
Summary
Create a Norway-style sovereign wealth fund from LNG, mining, and forestry revenues to benefit future generations.
What this proposal changes
- Mandates that 30% of annual LNG, mining, and forestry royalty revenues be deposited into a new BC Future Generations Fund.
- Establishes an independent investment board insulated from political direction, with a mandate to invest for 25+ year returns.
- Requires annual public reporting of fund performance, fees, and asset allocation.
- Restricts fund withdrawals to inflation-proofing and long-term infrastructure investment, prohibiting use for operating budgets.
Arguments for
- Converts finite resource wealth into a permanent financial asset that generates returns after resource revenues decline.
- Norway's Government Pension Fund Global demonstrates the model's success over four decades.
- Independent governance insulates the fund from short-term political spending pressures.
Arguments against
- Diverting 30% of royalty revenues reduces funds available for current health, education, and infrastructure priorities.
- Fund performance depends on global investment markets; poor returns during economic downturns could create political pressure to withdraw capital.
- BC's resource revenues are more volatile than Norway's oil revenues, making a stable contribution floor difficult to guarantee.
Cost & implementation
Revenue diversion: estimated $800 million–$1.5 billion annually at current royalty levels. Fund administration: $15–30 million per year. No net new spending — a reallocation of existing royalty flows.
Jurisdiction & legal authority
Fully within provincial jurisdiction under BC's fiscal authority. Investment board governance would require new provincial legislation; no federal approval needed.
How to vote
Visit cascadia.vote/questions/pnwc-A5 to cast your vote: Yes, No, or Maybe.
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