Alberta separation could cost $170 billion in first 5 years: report
A report on Alberta’s separation from Canada finds establishing a new country would cost several tens of billions of dollars and as much as $170 billion in the first five years. However, the report also shows some long term benefits for Albertans. In addressing the report, the province says in a news release “the short-term […]
A report examining Alberta's potential separation from Canada predicts the move could cost the province upwards of $170 billion in the first five years, with long-term impacts including lower employment and a smaller economy. The University of Calgary's School of Public Policy report, commissioned by the Danielle Smith government, outlines two scenarios: a "smooth" transition and a "difficult" one.
In the latter, trade and market access could be limited, causing lasting economic challenges for both Alberta and Canada. The report anticipates Alberta's economy could be more than 16 percent smaller than if the province remained in Canada, with employment nearly five percent lower after 20 years. Despite higher taxes, the government could face an ongoing annual budget deficit of more than $30 billion.
However, the report also suggests long-term benefits for Albertans, including higher income and lower taxes. The province has appointed an advisory panel to review the findings and prepare an independent assessment, warning that Alberta's separation would undoubtedly harm Canada as well.
Written by urgent.news from CityNews's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Cost of Alberta separation could be up to $170B: report globalnews.ca
- Alberta government report pegs cost of separation at up to $170 billion over 5 years toronto.citynews.ca
