Opinion/Research Archives

30Jan

By Bob AscahNo Comments

ATB, Banks, Financial Institutions, Fiscal History, Opinion/Research, Politics, Uncategorized

What the Free Alberta Strategy gets wrong about Canada’s banking system

Reproduced with permission from The Conversation. January 30, 2023 2.05pm EST Author Robert L. Ascah Robert L. Ascah is a Friend of The Conversation. Research Fellow, The Parkland Institute, University of Alberta Disclosure statement Robert (Bob) L. Ascah is affiliated with Alberta NDP. Partners University of Alberta provides funding as a founding partner of The Conversation CA. University of Alberta provides funding as a member of The Conversation CA-FR. View all partners We believe in the free flow of information Republish our articles for free, online or in print, under Creative Commons licence. Email Twitter Facebook LinkedIn Print What is the Free Alberta Strategy, the co-creation of two lawyers and a Calgary political scientis...

11Jul

By Bob AscahNo Comments

Government Finances, Health, Opinion/Research, Politics

Alberta Nurses- Poised to Strike?

Soon after Finance Minister Travis Toews announced a $17-billion deficit, on 6 July he fired a warning shot at the United Nurses of Alberta. While acknowledging nurses’ contributions to responding to the COVID-19 health crisis (“working diligently throughout”), the News release stressed “the important work of getting the province’s finances back on track.” The terse release reiterated the gist of the MacKinnon Report’s recommendations that for Alberta to rebalance its finances it must cut both the size of the public service as well as bring salaries and benefits in line with other provinces. According to Toews, nurses in Alberta get paid 5.6 per cent more than other comparator provinces (presumably B.C., Quebec and Ontario). This differential costs the Alberta taxpayers an extra $141-mil...

3Apr

By Bob AscahNo Comments

Agencies, Energy, Government Finances, Opinion/Research, Politics

Politics of Alberta Growth Mandate (AGM)

Politics of the Alberta Growth Mandate In past articles, the Alberta Growth Mandate was explained as a significant policy initiative in the first NDP budget of October 2015. It should be noted that, in the fall of 2015, Alberta was reeling from significant declines in investment and job losses, and a rookie NDP government was looking for quick wins to support jobs in the Alberta economy. The policy objective was to support Alberta companies (as defined by the Alberta Investment Management Corporation (AIMCo)) and based on meeting one of the following criteria. a. Creates jobs in Alberta b. Builds new infrastructure in Alberta c. Diversifies Alberta’s economy d. Supports Alberta’s growth e. Connects Alberta’s companies to export markets f. Develops subject matter exper...

22Mar

By Bob AscahNo Comments

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

Budget 2020-Credit Perspective

[Updated 23 August 2020. Note: This report was in development before the DBRS Morningstar report of Thursday 19 March. The report is only available to purchasers of the service. Normally, the Province of Alberta posts on its Investor Relations page the reports. To date, this has not taken place. Nor has there been an official reaction to the downgrade to AA- from AA and the outlook to negative.] One of the key audiences of any government budget, but especially a budget under increasing duress and scrutiny, are credit rating agencies such as Moody’s, Standard & Poor’s and DBRS Morningstar. Credit evaluation is as much an art as a science, requiring an understanding of financial principles, economics and political science. Agencies provide opinions on probabilities of default of ...

9Nov

By Bob AscahNo Comments

Opinion/Research, Uncategorized

Budget 2019- Analysis and Opinion

Genesis, analysis, investment imperative, rating agencies Treasury Board President and Finance Minister Trevor Toews was provided considerable advice as he prepared his October 2019 budget. The precursors included the NDP's "path to balance"- a Recovery built to Last, the UCP platform, Alberta Strong & Free, the report of the Blue Ribbon Panel (MacKinnon Report) and the Shadow Budget produced by the C.D. Howe Institute. In this report, we look at how the Alberta budget compares with these other "suggestions" or "guideposts." Then we examine the "big gamble" that underlines the UCP budget- if they create the environment for investment, will it come? Finally, we ask how the rating agencies will evaluate the UCP's initial stewardship of Alberta's public finances. Genesis Unlik...

12Feb

By albertarecessionwatchNo Comments

Energy, Opinion/Research, Uncategorized

CAPP’s Position- Analysis and Opinion

Originally posted on 12 February 2018 On Wednesday 7 February, Tim McMillan, president of the Canadian Association of Petroleum Producers (CAPP) spoke to the Edmonton Chamber of Commerce. The CAPP head spoke optimistically about growing demand for oil and natural gas, based largely on International Energy Agency forecasts. It was a "terrific outlook" with Canada being perceived as a "supplier of choice." But dangers lie ahead, according to the CAPP head. From: The Globe and Mail, Wednesday 7 February 2018 A grainy audio of his talk (with some audience comments) and question and answer is available here. (more…)

4Feb

By albertarecessionwatchNo Comments

Energy, Opinion/Research

Now it gets VERY interesting-Opinion

Originally posted 4 February 2018 Trans Mountain drama continues Trudeau in difficult spot Notley and oil industry press for declaration project is in national interest Weaver pulling strings in Victoria? (more…)

TransCanada Energy East- as a shareholder it’s a no-brainer-Opinion

9Oct

By albertarecessionwatchNo Comments

Energy, Opinion/Research

TransCanada Energy East- as a shareholder it’s a no-brainer-Opinion

Originally posted 9 October 2017 On Thursday 5 October TransCanada Corporation announced that it was no longer going to spend any more shareholders' money to seek approval to build a pipeline to the Atlantic coast. While much nasty recrimination will unfold for a few more weeks (the bad Liberals for supporting Bombardier which is paid for by our equalization payments, etc, etc), this remains a carefully thought out corporate decision. (more…)

18Aug

By albertarecessionwatchNo Comments

Opinion/Research

Ontario vs. Alberta

A recent Globe and Mail piece (14 August 2016) uncovered an analysis prepared for Labour Minister MaryAnn Mihychuk in February 2016 contrasting the seriousness of the 2008-09 auto bailout with Alberta's current economic and financial woes. The analysis compared unemployment rates in Ontario's manufacturing sector with Alberta's oilpatch. Alberta's unemployment rate in the oil sector rose from 2.9 per cent in 2011 to 7.9 per cent in 2015, whereas Ontario's manufacturing sector unemployment rate rose to 21.9 per cent in 2009 from 8.4 per cent in 2007. The article acknowledged that unemployment in the oil patch remains high and the general unemployment is at its highest in 22 years. A Western University economics professor is cited as saying that another reason for the auto bailo...

24Jun

By albertarecessionwatchNo Comments

Opinion/Research

Opinion

Justin Giovannetti writes about how Alberta has changed since Notley's government assumed power. The key changes range from a substantial increase in taxes or "levies" as a carbon tax is introduced in January next year to relatively low cost initiatives such as changing labour laws and legislation addressing the pay-day loan industry. Many of these measures have re-balanced the equilibrium between the rights of workers and the power of employers.