Government Finances Archives - Page 9 of 12

25Feb

By Bob AscahNo Comments

Budget, Government Finances, Opinion/Research

Sales Tax debate will be difficult for political parties to ignore

Updated 25 February 2021 On 24 February, the day before the UCP's third budget, the Globe and Mail reiterated its editorial position about a sales tax for Alberta. This perspective will be written off by political leaders as paternalistic, unwanted central Canadian twaddle. But the mood is definitely changing as a 2020 CBC-Calgary public opinion poll indicates. The non-debate by our political leaders has also been picked up by Alberta's business leaders. In a recent report Towards a Fiscally Sustainable Alberta- A Review of Provincial Government Finances, the Business Council of Alberta (BCA) of Alberta proclaims on its website: "Alberta, we have a problem." This message is not dissimilar to the language used by the Financial Review Commission's Report to Albertans issued in March 1993- a...

21Feb

By Bob Ascah1 Comment

Government Finances, Politics

Post-Mortem Budget 2021

Updated 25 March 2021 Subscribers and readers wishing to watch the unedited recording of the event see immediately below: Topic: Alberta Budget Panel Date:Mar 11,2021 11:32 AM Mountain Time (US and Canada)Recording-1(1.15 GB)https://ualberta-ca.zoom.us/rec/play/Fho1Zu-z2P0siweIkLKS69c5I0qJayPVtifu-qxUYHMxfTjxc4FhEmkNKH45qzB6skdm4bOLgqfj5a69.TAUF0uNq74aG3bwRPasscode: S^hpKdE6 Event registration closed. Video recording will be available after the event. Economics Society of Northern Alberta Institute of Public Administration of Canada (Edmonton) The Parkland Institute University of Alberta Present Post-Mortem on Alberta Budget 2021 Noon: Thursday 11 March 2021 On 25 February, Treasury Board President and Finance Minister Travis Toews presents his third budget- the first item on ...

13Feb

By Bob AscahNo Comments

Budget, Fiscal History, Government Finances

Budget Process: Pros & Cons of Supplementary Estimates

This memorandum from the late summer of 1981 captures the momentum of spending that had built up under the Lougheed government in 1981. As previous documents have shown, a great deal of money was being spent to cushion the blows from the National Energy Program and the attendant difficulties associated with lower oil price projections and high interest rates. As departments rushed to take advantage of a more generous attitude within the provincial cabinet to spend, the volume of additional requests suggested mid-year of supplementary estimates to presented at a fall sitting of the Legislative Assembly. Collins' memorandum attempts to get ahead of the list of Special Warrants, appropriations made by the provincial cabinet rather than the Legislative Assembly. These Special Warrants would ...

7Feb

By Bob AscahNo Comments

Budget, Capital Spending, Fiscal History, Government Finances

Hyndman Papers- 1982-83 Budget Deliberations

1982 was a pivotal year for Alberta as the twin effects of a world recession and falling oil investment forced Alberta policy-makers to pull out all the stops. Western separatism was a worry for Peter Lougheed when Gordon Kessler of the Western Canada Concept party won a February 1982 by-election in the rural constituency of Olds-Didsbury. This was also a time for budgetary largesse. In a 2011 article in Policy Options, economists Herb Emery and Ron Kneebone: Provincial support for the industry included a $5.4-billion program, introduced in 1982, consisting of royalty reductions and grants designed to increase the flow of revenue to the industry. In the same year the federal government would supplement this effort with its own $2-billion assistance plan. Measured in 2008 dollars, these t...

1Feb

By Bob Ascah3 Comments

Budget, Employment, Government Finances

Are the UCP good fiscal managers?

Updated 9 February 2021 On Monday, 18 January Service Alberta quietly issued a request for expressions of interest (REOI) to sell the data contained in systems from the Province's Land Titles Office (LTO), Personal Property Registry (PPR) information, and Corporate Registry data (COR). This Request was reported by the CBC on 21 January and Postmedia on 23 January. The Service Alberta ministry is run by Nate Glubish, the UCP member from Strathcona-Sherwood Park. (Picture source:Wikipedia) Background There has been little comment on this move by the Alberta government in the ten days or so since the REOI. The intent of the process is to determine the interest by private sector actors in buying an "exclusive 35-year concession" to sell information to registries from the databases of the P...

23Jan

By Bob AscahNo Comments

Agencies, Employment, Energy, Government Finances, Intergovernmental, Opinion/Research

GOA’s investment in Keystone XL looks shaky

Updated 25 January 2021 to reflect Kenney-Trudeau letter It was perhaps a foregone conclusion that Joseph R. Biden Jr. would sign an executive order soon after his inauguration rescinding the permit allowing TC Energy to build the Keystone XL pipeline. But hope springs eternal in some locales in Alberta. And yet, the heavily signalled order sat on the newly -minted President's desk. Executive Order on "Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis," a lengthy discourse of executive actions, revoked the March 2019 Permit for the Keystone XL Pipeline. According to the Order The Keystone XL pipeline disserves the U.S. national interest. The United States and the world face a climate crisis. That crisis must be met with action on a scale an...

11Jan

By Bob AscahNo Comments

Budget, Energy, Fiscal History, Government Finances

Hyndman Papers-Budget, NEP and Production Cutbacks

In this densely worded 4-page memorandum and Appendix from Deputy Provincial Treasurer A.F. "Chip" Collins to Treasurer Lou Hyndman, a financial analysis is undertaken by the staff within Fiscal Policy & Economic Analysis. The initials at the end of the memorandum indicate G. Lynn Duncan an Assistant Deputy Provincial Treasurer and A.G . (Arnie) Heisler, the Comptroller were its principal authors. This memorandum responds to a number of questions posed to the department in early March. The central question to be answered was "what is the value of the foregone production and is there a financial reward from shutting in production?" This would have been also been a central question for the Notley government back in 2017-18 when the differential was so low certain segments of the oil ind...

2Jan

By Bob AscahNo Comments

Agencies, ATB, Government Finances, Intergovernmental, Politics

2020- Best of, Worst of Times Year in Review

In this look-back at 2020, we summarize our thoughts and opinions on some of the key stories in 2020- news, analysis and opinion by Abpolecon.ca. COVID-19 and a drastic drop in oil prices landed like a hammer on Alberta's economy and political landscape. News 28 February Provincial Budget was full of optimism- little did we know. I raised the flag of what's Plan B? 31 March On the final day of the 2019-20 fiscal year, the Alberta cabinet passed Order in Council 104/2020 which authorized the “President of Treasury Board and Minister of Finance to make advances to or purchase securities of the Alberta Petroleum Marketing Commission.” Alberta taxpayers had bought a stake in the Keystone XL The Minister of Finance was authorized to borrow up to $2 billion "for th...

11Dec

By Bob AscahNo Comments

ATB, Government Finances, Opinion/Research

ATB Financial silently announces a surprising profit

As has now become the customary, on 19 November ATB quietly released its second quarter financial statement. Postmedia and The Globe and Mail did not report the rather surprising profit turnaround at the publicly-owned financial institution. The provincial agency's news release entitled "Helping Albertans move forward" speaks of the assistance ATB has given many of its borrowers, courtesy of a mandate of the Kenney government. According to the release ATB has "reached out" to an unspecified "thousands of consumer and business customers who participated in our relief program to draw up personalized plans supporting their financial future." Consistent with government efforts to attract investment and diversify the Alberta economy, the release states: ATB is helping...

28Nov

By Bob AscahNo Comments

Budget, Credit Ratings, Government Finances, Intergovernmental, Opinion/Research

Mid-year Fiscal and Economic Update- Analysis & Opinion

Slight improvement in deficit forecast for 2020-21 Recalibration of 3-year budget plan Balanced budget pushed further into future Fiscal anchors Ottawa's growing indebtedness and other grievances Job Creation Tax Cut and cutting red tape expected to spur investment and employment Government stays with present course to resize spending Small hint about need to examine revenue structure On Tuesday 24 November, Finance Minister Travis Toews released the 2020-21 Mid-year Fiscal Update and Economic Statement. (Watch the Press Conference here.) There was a slight improvement in the deficit numbers in the First Quarter Fiscal Forecast - then the deficit was estimated to be $24.8 billion- now the Government expects a $21.3 billion deficit. Improvements came mainly on the revenue side with $1.4 b...