Alberta
No Matter Which Formula, Albertans Win With An Alberta Pension Plan
From the Alberta Institute
Guest Post By Lindsay Wilson
Opponents of the Alberta Pension Plan (APP) have wasted no time busting out the pitchforks, with their legacy media lapdogs hard at work toeing the line for the union big wigs and their NDP friends.
It’s merely weeks into the launch of a province-wide public consultation to educate and get feedback from Albertans on an APP and there is no shortage of Trudeau-funded media penning pieces laden with misinformation.
They’re pushing a fear-based narrative that has seniors running scared and reasonable people questioning whether the bold move isn’t a little selfish which is no different than what Quebec has been doing — quite successfully — since day one.
For us here at Alberta Proud, we not only think opting out of the Canada Pension Plan (CPP) and establishing an APP is a great idea — it’s a critical step toward more Alberta autonomy.
If we don’t, will we ever achieve much of anything in the arena of autonomy? Think about it: if we can’t win a referendum on the one thing we don’t need permission from Ottawa to do, where does that leave us?
More Alberta and Less Ottawa isn’t just a pie in the sky for us at Alberta Proud. It’s our mantra.
We genuinely believe enough is enough. It’s time for Ottawa to take a hike, including their antiquated equalization formula that you voted 62% in favour of scrapping.
We now have an opportunity to leave the CPP, in favour of a made-in-Alberta plan which must offer the same or better benefits. And it will, without question, put more money into your pocket every year as we finally won’t be overcontributing.
The newest twist in the anti-APP narrative is casting doubt on the formula the independent, government-commissioned LifeWorks report produced: that 53% of the CPP assets ($334 billion) would be owed to Alberta.
By switching to an APP, that translates to putting an additional $1,425 back into each employee’s pocket, according to LifeWorks, and when you consider the employer’s contribution, that amount is effectively doubled.
That’s a huge incentive for Alberta employers, those coming here to work and for the majority of hard-working everyday people who are drowning in this era of inflation (or #justinflation as we like to call it at Alberta Proud).
Meanwhile in the mainstream media, economist Trevor Tombe is balking at the math, claiming Albertans will be owed around one-third of what LifeWorks has assessed.
While it may seem odd everyone is arriving at different numbers, here is the kicker: even if we leave with only 17% (among the lower estimates floating around and not the 25% estimated by Tombe or the 53% estimated by LifeWorks) it’s still a better deal for Albertans.
But how, you ask? Simply put, we would finally get a break from this hidden transfer program, which is yet another way in which hardworking Albertans subsidize the rest of the country.
We have a comparatively younger population and because of this, we have paid more than we have collected. It has always been this way for us, and it doesn’t look like that will change. In the past year, a record 185,000 new Albertans moved here to work and take advantage of our low taxes and abundant opportunities. Any way you slice it, our contribution rate would fall.
Another concern is around who will manage an APP.
While the opposition is quick to point out CPP investment returns have been decent and that an APP would be best not left in the hands of AIMCo, did you know we could very well use the same pension fund manager as the CPP or another arms-length, third party?
By putting Alberta first, you will not risk your pension.
By switching to an APP, you will put more money in your pocket.
Ottawa has long turned its back on Albertans and continues to hit us with eco-radical regulations that will leave us broke and freezing in the dark. If we stay in the CPP, we are sending them a message that they can keep pushing us around, forever, no matter what they do to us.
It’s time for a change.
So, take a moment to fill out the Alberta government survey.
Send emails to your MLA, Finance Minister Nate Horner and Premier Danielle Smith. Show up to the townhalls.
Alberta’s future of more autonomy depends on all of us getting loud and Alberta Proud!
Lindsay Wilson is the President of Alberta Proud, a group of citizens concerned about Alberta’s future within Canada.
Alberta
They never wanted a pipeline! – Deputy Conservative Leader Melissa Lantsman
From Melissa Lantsman
Turns out the anti-development wing of the Liberal Party never stopped running the show.
Today, we’ll see if the Liberals vote for the pipeline they just finished bragging about.
Spoiler: they won’t. Because with the Liberals, the announcements are real, but the results never are.
Alberta
Premier Smith: Canadians support agreement between Alberta and Ottawa and the major economic opportunities it could unlock for the benefit of all
From Energy Now
By Premier Danielle Smith
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If Canada wants to lead global energy security efforts, build out sovereign AI infrastructure, increase funding to social programs and national defence and expand trade to new markets, we must unleash the full potential of our vast natural resources and embrace our role as a global energy superpower.
The Alberta-Ottawa Energy agreement is the first step in accomplishing all of these critical objectives.
Recent polling shows that a majority of Canadians are supportive of this agreement and the major economic opportunities it could unlock for the benefit of all Canadians.
As a nation we must embrace two important realities: First, global demand for oil is increasing and second, Canada needs to generate more revenue to address its fiscal challenges.
Nations around the world — including Korea, Japan, India, Taiwan and China in Asia as well as various European nations — continue to ask for Canadian energy. We are perfectly positioned to meet those needs and lead global energy security efforts.
Our heavy oil is not only abundant, it’s responsibly developed, geopolitically stable and backed by decades of proven supply.
If we want to pay down our debt, increase funding to social programs and meet our NATO defence spending commitments, then we need to generate more revenue. And the best way to do so is to leverage our vast natural resources.
At today’s prices, Alberta’s proven oil and gas reserves represent trillions in value.
It’s not just a number; it’s a generational opportunity for Alberta and Canada to secure prosperity and invest in the future of our communities. But to unlock the full potential of this resource, we need the infrastructure to match our ambition.
There is one nation-building project that stands above all others in its ability to deliver economic benefits to Canada — a new bitumen pipeline to Asian markets.
The energy agreement signed on Nov. 27 includes a clear path to the construction of a one-million-plus barrel-per-day bitumen pipeline, with Indigenous co-ownership, that can ensure our province and country are no longer dependent on just one customer to buy our most valuable resource.
Indigenous co-ownership also provide millions in revenue to communities along the route of the project to the northwest coast, contributing toward long-lasting prosperity for their people.
The agreement also recognizes that we can increase oil and gas production while reducing our emissions.
The removal of the oil and gas emissions cap will allow our energy producers to grow and thrive again and the suspension of the federal net-zero power regulations in Alberta will open to doors to major AI data-centre investment.
It also means that Alberta will be a world leader in the development and implementation of emissions-reduction infrastructure — particularly in carbon capture utilization and storage.
The agreement will see Alberta work together with our federal partners and the Pathways companies to commence and complete the world’s largest carbon capture, utilization and storage infrastructure project.
This would make Alberta heavy oil the lowest intensity barrel on the market and displace millions of barrels of heavier-emitting fuels around the globe.
We’re sending a clear message to investors across the world: Alberta and Canada are leaders, not just in oil and gas, but in the innovation and technologies that are cutting per barrel emissions even as we ramp up production.
Where we are going — and where we intend to go with more frequency — is east, west, north and south, across oceans and around the globe. We have the energy other countries need, and will continue to need, for decades to come.
However, this agreement is just the first step in this journey. There is much hard work ahead of us. Trust must be built and earned in this partnership as we move through the next steps of this process.
But it’s very encouraging that Prime Minister Mark Carney has made it clear he is willing to work with Alberta’s government to accomplish our shared goal of making Canada an energy superpower.
That is something we have not seen from a Canadian prime minister in more than a decade.
Together, in good faith, Alberta and Ottawa have taken the first step towards making Canada a global energy superpower for benefit of all Canadians.
Danielle Smith is the Premier of Alberta
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