The CPP is being used as a pinata by the Alberta government. The dispute is not about the national pension plan, but about a political agenda targeting the federal government
. This included a news conference with Premier Danielle Smith, Finance Minister Nate Horner and Jim Dinning who will chair an engagement panel. While the report and news conference emphasized the economic benefits of a new APP to Albertans, this is really a political exercise. A political exercise that, at its core, is about inflicting pain on the federal government.
The logic fails on even a superficial examination. If Ontario also pulled out, using the same calculations, it would receive 63 per cent of CPP assets. Obviously, there cannot be more than 100 per cent of an asset. Moreover, it would mean that the other provinces would receive nothing, and would owe the CPP additional billions.
Given the fundamental error of the APP report’s economic calculations, it is important to recognize that this is about politics and not economics. This can be explained in numerous ways.conservative intellectuals for decades. However, it only emerges publicly when the Liberals are in office federally.
The Smith government is fully aware that the idea is unpopular, therefore it wants to change public opinion. Commissioning a report that puts the most positive spin on the numbers is designed to appeal to Albertans of all ages. People in their 30s and 40s will be attracted by lower contribution rates, and those in their 50s and 60s will be excited by higher retirement benefits. If, through the engagement panel, the government sees a shift toward an APP, then a referendum will be held.
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