October 19th, 2020

Cut from same cloth as Klein?


By Letter to the Editor on December 23, 2019.

I am writing on behalf of the thousands of Alberta teachers and other public employees who find themselves at the mercy of our notoriously unscrupulous provincial premier. What Mr. Kenney has recently done by ramrodding Bill 22 through the legislature threatens the very livelihood of every pensioner living on a fixed budget.

Mr. Kenney seems to be working on the main premise of his predecessor Ralph Klein: that for some unimaginable reason Albertans will benefit by allowing more pigs access to the trough. We have all learned over the years that privatizing provincial services has ended up being detrimental to the middle class while allowing the wealthy private sectors of the economy to have additional opportunities to plunder the marketplace.

Despite proof that trade unions and professional associations do a more efficient job of managing their own pension funds, Mr. Kenney and his UCP cronies have found it expedient to establish the politically associated AIMCo fund to “oversee” the pensions. The threat to our pensions is implicit in that somehow his “progressive conservative” government once again intends to take from the poor to give to the rich. The advantages of such a questionable program do not seem evident to the primary parties involved: i.e. the pensioners themselves.

In effect, Mr. Kenney has “legislated” an agency to invest our pensions as they see fit. Unfortunately for us, this agency has had a rather dismal return on their investments in the past, when you consider that they managed to turn a more than nine per cent interest in 2017 into a slightly less than three per cent in 2018. This performance does not exactly inspire confidence.

If Albertans are expressing concern over the heavy-handed methods that Mr. Kenney has been using to govern so soon into his elected term, they have every right to do so. Many of us still remember the painful five per cent rollback in salary that we took when King Ralph decided to eliminate the deficit back in 1995. Mr. Kenney is obviously cut from the same cloth!

Bruce Allan

Lethbridge

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phlushie

My first question is, Why was Jason Kenney even allowed to run for Premier, as he was a resident of Ontario. If I came to Alberta from Ontario to vote in Alberta I woud not be allowed to vote. Secondly, with all the horse excrement that occured during the leadership campaign , why was election as party leader even upheld. IF there is a stink of corruption, then we had a ripe feedlot at the convention that nobody noticed, or even faild to ask what the odour was.
So now how can we expect better results. Humble Rachel, did a better job with less disruption and still kept our AA1 credit rating. Ifi can remember back, Lougheed had Alberta on a AAA1 credit rating with Moody, Klein reduced to AA1, so Yes same cloth. Oh, how profitable did Volker Steven become after being set up by Klein, and what happened to our highway maintenance costs?

snowman

If I had a pension I would be concerned who could better handle the investment side to pay my pension Aimco or general revenue. Aimco has a record 12% investment return pensions would be better protected than revenues from general revenue or oil sales . sounds like a bunch ndp’s sore losers big spenders.

phlushie

excuse me but it was a 2% return, the 12% was the fund under former management.\\\