The Alberta Legislature Building. Global News


9th Dec, 2023

Alberta's legislature concluded its fall session early on Thursday, marked by Premier Danielle Smith's government pushing through a bill mandating a referendum before the province could withdraw from the Canada Pension Plan. This move resulted in a contentious end to the six-week sitting, the first since the United Conservative Party's victory in the spring election.

Joseph Schow, the government house leader, defended imposing time limits on the final debate stages, citing the Opposition NDP's intent to stall the bill by making extensive speeches in the house. Schow emphasized the need to ensure the legislation's passage through a democratic amendment.

However, the session ended amid controversy when NDP house leader Christina Gray accused Schow of threatening NDP member Rakhi Pancholi during a heated exchange. Gray alleged that Schow's comments made Pancholi feel unsafe, prompting her to request Speaker Nathan Cooper to investigate the incident.

Schow denied making any threats, stating that while there was a heated exchange, he had never threatened a member of the legislative assembly. The matter is to be further investigated and addressed when the house reconvenes.

The session saw the government pass nine bills, including the pivotal Bill 1, which mandates a referendum before increasing personal and business tax rates. Opposition members criticized the government's use of time allocation to curtail debates on critical issues such as the pension bill and legislation enabling changes to gift rules for politicians.

The focus of opposition attention during the session was the pension bill, which they deemed a threat to Albertans' retirement security. Despite the NDP's efforts to amend the bill for stricter regulations, the amendments were defeated by the UCP majority.

The bill stipulates the holding of a referendum but leaves the decision to abide by the result with the government once the plebiscite is called. Finance Minister Nate Horner assured the house that the government would respect the referendum results and reinvest any transferred funds into an Alberta pension plan. However, concerns were raised about the bill's lack of clarity on the management of income generated from the Alberta plan.

Gray highlighted the discrepancy between the bill's promises and its actual provisions, expressing concern over the lack of clarity and tangible assurances for Albertans.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

You may also like

TD Bank’s Stock Gains as Analyst Predicts Recovery

Toronto-Dominion Bank (TD) received a much-needed boost as Jefferies Financial Group upgraded its stock to a "buy" rating, raising its....

U.S. Regulator Flags More Banks Amid Profit Dip

The U.S. banking sector faced a mixed third quarter as the Federal Deposit Insurance Corporation (FDIC) flagged two more banks....

Bank of Canada Cuts Key Interest Rate to 3.25% to Boost Growth

The Bank of Canada has lowered its policy interest rate by 50 basis points, bringing it down to 3.25%. This....

Asian Stocks Rally as US Inflation Fuels Fed Rate Cut Hopes

Asian stock markets surged on Thursday, recovering from recent losses, after U.S. inflation data bolstered confidence in an upcoming Federal....

Trump Family Joins Bitcoin Boom at Gulf Crypto Conference

A Crypto Spectacle in the GulfThe Trump family and their allies are set to make waves in the cryptocurrency world....

Ripple’s XRP Eyes Bullish Revival After RLUSD Approval

Ripple’s XRP could regain its upward momentum after receiving a significant boost from the New York Department of Financial Services....

Crypto Market Buzz: Traders Eye Next Week's Potential

The crypto market is buzzing with activity as traders eagerly look ahead to next week. While Bitcoin’s progress seems to....

XRP Price Could Hit $100 by 2025: Here's Why

XRP, the cryptocurrency created by Ripple Labs, has been lagging in recent years, but recent developments suggest that things are....

Asian stocks slide, Korean index falls 2.5% after Wall St hits records

BANGKOK — Stock markets in Asia mostly declined on Monday, with South Korea's benchmark index falling 2.3%, following a strong....

Prospect Capital Downgraded to Junk by S&P Amid Loss Concerns

S&P Global Ratings has downgraded Prospect Capital Corporation’s private credit fund to junk status, assigning it a BB+ rating. The....

ECB Prepares for Faster Rate Cuts to Boost Economy

The European Central Bank (ECB) is gearing up to slash interest rates at a quicker pace in an effort to....

Canada’s S&P/TSX Gains While U.S. Markets Slip Ahead of Jobs Data

Canada’s primary stock index saw modest growth on Thursday, powered by gains in energy and utilities sectors. The S&P/TSX composite....