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Finance committee  I can do that.

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  Sure. Just two days ago, Fairness Alberta released an analysis that had eight ways to reform equalization. I encourage everybody to have a look at fairnessalberta.ca. There are always economists and think tanks that often put out one or two flaws in a program, but I think we've p

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  Yes, sure.

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  The first problem, which I touched on a little bit in my comments, is that the health transfers and the social transfers are a $75-billion federal program which goes to provinces to cover provincial services. Because Albertans pay a higher proportion of income tax, we end up actu

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  As I said, Alberta has diversified a great deal since the 1980s, I think in large part due to lower taxes and lower regulations, but also from spinoffs from the wealth created by that oil sector. We are in a place where we have other things we do, of course, but it would have a p

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  Absolutely. The oil and gas sector is actually only about 25% of our economy. We have diversified considerably over the last 30 years through various means, including a lower regulatory burden and lower taxes on companies. Alberta is raring to go. Of course, when you have the th

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  Yes. I mean, the $1 billion that has been earmarked for potential reclamation is helpful, but as I've pointed out, look at how much Albertans contribute to national revenues. We paid about $1.4 billion or $1.5 billion into the $9-billion auto sector bailout in 2009. We paid more

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  Absolutely. That's the biggest part of it. Also, though, we want to be able to be a massive economic engine for the country. We would also like to see some reforms on a couple of programs, though, to make the way in which the funds are distributed around the country more fair.

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  It's no secret that there's a huge problem with the lack of pipeline access, all of the hurdles that have come up since, and more hurdles that the government is considering putting forward through Bill C-48 and Bill C-69. That does mean that all of our oil prices are discounted a

June 18th, 2020Committee meeting

Bill Bewick

Finance committee  Thank you very much for the invitation to appear. It really is an honour to be here today before the House of Commons Standing Committee on Finance. While everyone's economies are in uncharted waters across Canada, after a five-year downturn, Alberta has been hit extra hard by t

June 18th, 2020Committee meeting

Bill Bewick