Ontario’s finance minister has written Deputy Prime Minister and Finance Minister Chrystia Freeland asking for an "urgent meeting" of federal and provincial finance ministers to address Alberta’s proposal to pull the province out of the Canada Pension Plan.
Ontario's finance minister said his province respects the role Alberta plays in Canada's economic success, and will continue to support its energy sector, but the CPP's strength is its national scope. "I encourage Albertans to stay in the CPP," Poilievre said, adding he will "protect and secure the CPP for Albertans and all Canadians" by being a prime minister that lets Alberta "develop its resources to secure our future."Last month, Smith released a long-awaited report by consultant LifeWorks claiming that if Alberta pulled out of the CPP, it would be entitled to $334 billion — more than half of the fund's assets.
University of Calgary economist Trevor Tombe published a paper estimating Alberta is entitled to only about 20 to 25 per cent of the fund. A 2019 briefing note from Alberta's Finance Department to Travis Toews, who served as finance minister to both Smith and former premier Jason Kenney, estimated Alberta's slice of CPP assets at less than 12 per cent.
According to the first major poll conducted since Smith began making the pitch to take Alberta out of the CPP, the proposal is widely opposed by Albertans.
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