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Separation could cost Alberta up to $170B: independent report
On Wednesday, a University of Calgary School of Public Policy report commissioned by the Alberta government estimated separation could cost between $50 billion and $170 billion over five years, causing significant economic disruption.
Alberta's debt would surge by $324 billion upon separation as the province assumes its share of national liabilities, bringing total debt to $442 billion.
Establishing a new country would cost between $50 billion and $170 billion over five years, with GDP dropping about 2.2 per cent and typical workers earning almost $5,500 less annually in the short term.
Finance Minister Jason Nixon emphasized the report highlights both 'smooth' and 'difficult' negotiation scenarios, with the assessment stressing the high costs and uncertainty of separation for Alberta.
The panel stated the rest of Canada would be better off if Alberta remains, despite the report projecting long-term GDP could rise 3.4 per cent over 20 years.