Alberta
Alberta First needs 270,000 Albertans to sign petition, initiate referendum on Pension Plan
New release from Alberta First
The cost of running the CPP has increased a thousandfold since 2000. In 2000, costs were 4 million dollars; currently, they amount to 4.4 billion dollars.
Every Albertan can play a part in ensuring prosperity for generations to come.The Alberta First Pension Plan team strongly believes that the Alberta Pension Plan is a sensible choice. This belief comes after extensive discussions with thousands of Albertans and a deep understanding of the law and the facts. Our responsibility is to ensure that this understanding is shared with every voting Albertan. The Alberta Pension Plan has been a topic of debate, with supporters and opponents expressing their opinions on its potential impact. As a team of dedicated Albertans, the Alberta First Pension Plan team, guided by numerous esteemed professionals across the province, is committed to providing the facts to all Albertans. We support the idea that establishing an Alberta Pension Plan would give Alberta more control and independence over managing the investment funds and the ability to cut the high management fees Canadians pay to the CPP Investment Board. It has the potential to offer greater benefits and lower contributions than the existing Canada Pension Plan. An Alberta Pension Plan would address the unique needs of Albertans and contribute to economic development and financial security. To find reports, videos, and information on the Alberta Pension Plan, you can CLICK HERE. Many who oppose it are worried about the costs and complexities of setting up a separate pension plan for Alberta. They fear higher fees and lower benefits for Albertans than the Canada Pension Plan. Additionally, they are concerned about the economic impact and, most importantly, the Alberta government’s potential interference in fund management. It is essential to consider both perspectives when comparing the Alberta Pension Plan with the Canada Pension Plan. This allows Albertans to make an informed decision. While there are valid concerns, citizens can address these by staying actively involved and acting as watchdogs over the provincial government. Here are the top three concerns regarding moving to an Alberta Pension Plan: “Higher costs to manage an Alberta Penson Plan” Alberta is home to some of the most competent individuals in the financial industry. To ensure cost-effective management, Alberta could consider adopting several models from around the world. The cost of running the CPP has increased a thousandfold since 2000. In 2000, costs were 4 million dollars; currently, they amount to 4.4 billion dollars. “My benefits will be negatively affected.” As per the CPP Act, Section 3 (1), residents of Alberta must receive, at minimum, the same benefit they received under the CPP for a province to withdraw and create their own. “The Alberta Government will mismanage the fund.” The fear of the government mismanaging money is a valid concern. As Albertans, we must ensure that the Alberta Pension Plan is managed independently, with the sole mandate of maximizing profit and mitigating risk to the fund. We must be vocal and involved in the decision-making process to shape the future of our pension system. What do we need to do?Our first step is to initiate a referendum. The Alberta Government will only proceed with the referendum if there is significant support from Albertans.
This will mark an outstanding achievement, demonstrating Albertans’ determination to secure a prosperous future for all generations.
OUR PENSION! OUR CHOICE! |
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Agriculture
Lacombe meat processor scores $1.2 million dollar provincial tax credit to help expansion
Alberta’s government continues to attract investment and grow the provincial economy.
The province’s inviting and tax-friendly business environment, and abundant agricultural resources, make it one of North America’s best places to do business. In addition, the Agri-Processing Investment Tax Credit helps attract investment that will further diversify Alberta’s agriculture industry.
Beretta Farms is the most recent company to qualify for the tax credit by expanding its existing facility with the potential to significantly increase production capacity. It invested more than $10.9 million in the project that is expected to increase the plant’s processing capacity from 29,583 to 44,688 head of cattle per year. Eleven new employees were hired after the expansion and the company plans to hire ten more. Through the Agri-Processing Investment Tax Credit, Alberta’s government has issued Beretta Farms a tax credit of $1,228,735.
“The Agri-Processing Investment Tax Credit is building on Alberta’s existing competitive advantages for agri-food companies and the primary producers that supply them. This facility expansion will allow Beretta Farms to increase production capacity, which means more Alberta beef across the country, and around the world.”
“This expansion by Beretta Farms is great news for Lacombe and central Alberta. It not only supports local job creation and economic growth but also strengthens Alberta’s global reputation for producing high-quality meat products. I’m proud to see our government supporting agricultural innovation and investment right here in our community.”
The tax credit provides a 12 per cent non-refundable, non-transferable tax credit when businesses invest $10 million or more in a project to build or expand a value-added agri-processing facility in Alberta. The program is open to any food manufacturers and bio processors that add value to commodities like grains or meat or turn agricultural byproducts into new consumer or industrial goods.
Beretta Farms’ facility in Lacombe is a federally registered, European Union-approved harvesting and meat processing facility specializing in the slaughter, processing, packaging and distribution of Canadian and United States cattle and bison meat products to 87 countries worldwide.
“Our recent plant expansion project at our facility in Lacombe has allowed us to increase our processing capacities and add more job opportunities in the central Alberta area. With the support and recognition from the Government of Alberta’s tax credit program, we feel we are in a better position to continue our success and have the confidence to grow our meat brands into the future.”
Alberta’s agri-processing sector is the second-largest manufacturing industry in the province and meat processing plays an important role in the sector, generating millions in annual economic impact and creating thousands of jobs. Alberta continues to be an attractive place for agricultural investment due to its agricultural resources, one of the lowest tax rates in North America, a business-friendly environment and a robust transportation network to connect with international markets.
Quick facts
- Since 2023, there are 16 applicants to the Agri-Processing Investment Tax Credit for projects worth about $1.6 billion total in new investment in Alberta’s agri-processing sector.
- To date, 13 projects have received conditional approval under the program.
- Each applicant must submit progress reports, then apply for a tax credit certificate when the project is complete.
- Beretta Farms has expanded the Lacombe facility by 10,000 square feet to include new warehousing, cooler space and an office building.
- This project has the potential to increase production capacity by 50 per cent, thereby facilitating entry into more European markets.
Related information
From Premier Danielle Smith and Alberta.ca/Next
Let’s talk about an Alberta Pension Plan for a minute.
With our young Alberta workforce paying billions more into the CPP each year than our seniors get back in benefits, it’s time to ask whether we stay with the status quo or create our own Alberta Pension Plan that would guarantee as good or better benefits for seniors and lower premiums for workers.
I want to hear your perspective on this idea and please check out the video. Get the facts. Join the conversation.
Visit Alberta.ca/next
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