Alberta
Canadians not feeling great about personal finances… Even worse in Alberta
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From MNP Canada
According to the latest MNP Consumer Debt Index being released today, Albertans are finding themselves with a lot less wiggle room in household budgets each month. The amount of money left over after paying all their bills and debt obligations has reached its lowest level since tracking began. Even though the Bank of Canada is expected to keep interest rates stable this week, six in ten in the province say they are more concerned about their ability to repay their debts than they used to be.
MNP Consumer Debt Index Update: Albertans finding themselves with a lot less money each month, six in ten concerned their ability to repay their debts
Stable interest rates are a cold comfort to those already having a difficult time making ends meet
Even though the Bank of Canada has stated that it will keep interest rates stable until next year, six in ten (58%) Albertans say they are more concerned about their ability to repay their debts than they used to be. The concern could be the result of steeply declining wiggle room in household budgets. After paying all their current bills and debt obligations, Albertans say they are, on average, left with $459 at the end of the month, a drop of $209 since June and the lowest level since tracking began in February 2016. Half (49%, +5 pts) say they are left with less than $200 including three in ten (34%) who say they already don’t make enough money to cover all their bills and debt obligations each month (+9 pts).
The findings are part of the latest MNP Consumer Debt Index conducted quarterly by Ipsos. Now in its tenth wave, the Index tracks Canadians’ attitudes about their consumer debt and their perception of their ability to meet their monthly payment obligations.
Average Finances Left at Month-End
Image Caption: Albertans were asked: Thinking about the amount of after-tax income you make each month compared to the amount of your bills and debt obligations each month, how much is left over? In other words, how much wiggle room do you have before you wouldn’t be able to pay all your bills and debt payments each month?
“There has been a marked decline in the amount of wiggle room that households have in Alberta. says Donna Carson, a Licensed Insolvency Trustee with MNP LTD, the country’s largest personal insolvency practice. “Family budgets are being strained by everyday expenses which means many aren’t putting anything away for rainy day savings and that puts them at risk. It is most often unexpected expenses that force people to take on more debt they can’t afford and that begins a cycle of increasing servicing costs, and eventual default.”
It’s no surprise that with less in the bank at month-end, Albertans’ ability to cope with unexpected expenses has been shaken. Seven in ten (70%) are not confident in their ability to cope with life-changing events – such as a divorce, unexpected auto repairs, loss of employment or the death of a family member – without increasing their debt.
“A job loss or an unexpected expense are most devastating for people who already have a large amount of debt. Our research continues to show just how vulnerable Alberta households are to inevitable life events like a car repair,” says Carson who recommends having at least three to six months of expenses saved in case of emergencies.
Albertans may have fewer dollars left at month-end to buffer them from sudden expenses but, somewhat surprisingly, they are growing generally far more positive about their personal financial situations than those in other provinces. According to the index, one quarter (25%) say that their debt situation is better than it was a year ago (+6 pts) and one in three (32%) say that it is better than five years ago (+7 pts). In addition to being optimistic about the present, there has been a significant increase in the proportion who feel more positive about the future. Four in ten (44%) expect that their debt situation a year from now will be better, a jump of 19 points. Six in ten (58%) believe that it will be better five years from now (+13 pts).
“The current holding pattern on interest rates and increasing economic optimism in the province could be giving Albertans a sense of relief about their finances. Still, the fact remains that many Albertans are deeply indebted and most don’t have a clear path to repayment,” says Carson pointing to evidence from the research showing that many may intend to take on more credit to make ends meet over the next year.
Just about half (48%) of Albertans say they don’t think that they will be able to cover all their living and family expenses for the next 12 months without going further into debt, a one-point decrease since June. Furthermore, just under half (49%) are confident they won’t have any debt in retirement, a one-point increase.
“Some may have resigned themselves to being in debt for life. Interest rates may remain stable but there are many already struggling to make ends meet at the current rate,” says Carson.
A large portion of Albertans (53%) are concerned about how rising interest rates will impact their financial situation, up one point since June. Fifty-two per cent agree that if interest rates go up much more, they are afraid they will be in financial trouble (-4 pts). Finally, a third (35%) are still concerned that rising interest rates could move them towards bankruptcy (-7 pts).
“The single biggest mistake people make is taking on more debt to try and deal with debt. Even if you are swimming in credit card debt, with a line of credit, a mortgage, a car loan or all of the above, you can get help to design a debt relief strategy,” says Carson.
MNP LTD offers free consultations with Licensed Insolvency Trustees to help individuals understand their debt relief options. Licensed Insolvency Trustees are the only government-regulated debt professionals who offer a full range of debt relief options and can guarantee legal protection from creditors through consumer proposals and bankruptcies.
About the MNP Consumer Debt Index
The MNP Consumer Debt Index measures Canadians’ attitudes toward their consumer debt and gauges their ability to pay their bills, endure unexpected expenses, and absorb interest-rate fluctuations without approaching insolvency. Conducted by Ipsos and updated quarterly, the Index is an industry-leading barometer of financial pressure or relief among Canadians. Visit www.MNPdebt.ca/CDI to learn more.
The latest data, representing the tenth wave of the MNP Consumer Debt Index, was compiled by Ipsos on behalf of MNP LTD between September 4 and September 9, 2019. For this survey, a sample of 2,002 Canadians aged 18 years and over was interviewed. The precision of online polls is measured using a credibility interval. In this case, the results are accurate to within +2.5 percentage points, 19 times out of 20, of what the results would have been had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
Alberta
Can Trump Revive The Keystone Pipeline?
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From the Daily Caller News Foundation
By David Blackmon
In a post on his Truth Social media platform Monday night, President Donald Trump said he still wants to see the Keystone XL pipeline through to completion. Here is the full text of the president’s post:
“Our Country’s doing really well, and today, I was just thinking, that the company building the Keystone XL Pipeline that was viciously jettisoned by the incompetent Biden administration should come back to America, and get it built — NOW! I know they were treated very badly by Sleepy Joe Biden, but the Trump Administration is very different — Easy approvals, almost immediate start! If not them, perhaps another Pipeline Company. We want the Keystone XL Pipeline built!”
For those unaware, the company that spent a decade attempting to finance, obtain permits, and build the Keystone XL pipeline project is TC Energy (formerly Trans Canada), which is headquartered in Calgary, Alberta, Canada.
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Fraught with controversy from the beginning, Keystone XL became a true political football during the Barack Obama presidency as the anti-oil and gas lobby in the U.S. mounted a disinformation campaign to kill public support for it. The mounting of the costly disinformation campaign made the process of obtaining permits at all levels of government – state, local, and federal – far more difficult and time-consuming, needlessly running up the project’s cost in the process.
After the Obama State Department led by Secretary John Kerry refused to issue the international cross-border permit required to complete the line, Trump quickly acted to ensure its approval early in his first term in office. By the time Joe Biden assumed office in January 2021, TC Energy had invested billions of dollars – creating thousands of high-paying jobs in the process – and well over half the line was already in the ground. Still, despite the huge sunk cost and lacking an ability to cite any instance in which TC Energy stood in violation of any U.S. law or regulation, Biden took the extraordinary, indefensible step of cancelling the project with the stroke of a pen.
But can the project really be revived now? It’s an important question given that Keystone XL was designed to bring as many as 830,000 barrels of Canadian oil per day into the United States for refining and delivery to markets.
Here, it is key to note that – as I pointed out last November when then-President-elect Trump raised this topic – TC Energy is no longer the owner of the moribund project. The remnants of Keystone XL were included in a group of assets TC Energy spun off last year when it formed a new company named South Bow Energy.
Complicating matters further is the fact that, after it decided the pipeline was a lost cause back in 2021, TC Energy pulled the installed pipe out of the ground so it could be repurposed for other projects in its portfolio. Then, there’s the fact that many of the permits the company spent years trying to obtain from various levels of governments are no longer valid and would have to go through the application and approval processes again were the project to be revived.
At the federal level, the Department of Interior and FERC would govern most of the necessary permitting processes. President Trump ordered all of his departments and commissions in January to research ways the executive branch can streamline the federal processes and Interior Secretary Doug Burgum included that goal as one of his 6 top priorities in a memo to staff dated February 3.
But even if those projects are successful in speeding up permitting at the federal level, they would have no impact on such challenges at the state and local levels. Activist groups who organized the opposition to the project saw great success in holding up permitting issuances at these lower levels of government, and would no doubt revive that strategy to attack any effort to restart the pipeline.
There can be no doubt that Trump’s desire to get the pipeline built is a laudable goal from a commercial, environmental and national security standpoint. Whether it is a practical goal is another question with many factors arrayed in opposition to it.
But one thing I’ve learned long ago is to never underestimate Donald Trump’s ability to get a deal done, so no one should give up hope just yet.
David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.
Alberta
Alberta Coordinating law enforcement to fight fentanyl
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Alberta’s government is working with municipalities to tackle social disorder arising from the fentanyl crisis by aligning community peace officers with local police.
Enhancing law enforcement coordination between the province and municipalities is crucial to strengthening enforcement efforts in the ongoing fight against fentanyl and the illicit drug trade. A more unified response among law enforcement agencies is crucial to effectively and efficiently addressing the fentanyl crisis and its devastating effects on Albertans.
At the request of the provincial government, more than 800 community peace officers from 34 large- and mid-sized municipalities will immediately begin coordinating operations with local police to more effectively combat social disorder stemming from the use of illicit drugs, including deadly fentanyl.
“We know a law enforcement presence will make a difference. Fentanyl continues to endanger the lives of Albertans and is devastating to families and communities. Crisis demands immediate and unified action. By aligning the efforts of community peace officers and local police, we are ensuring a coordinated, team response to combat the illicit drug trade to improve public safety. When community peace officers and local police work together in integrated street patrols, we create a visible and unified front against crime.”
“It takes a team effort to tackle the fentanyl crisis. Every level of government has a role to play. Working together with our municipal partners will ensure we can address this crisis, improve public safety for Albertans and combat fentanyl, which has destroyed families and livelihoods.”
Unifying the operational command of community peace officers under the leadership of municipal police services and the RCMP in the fight against fentanyl will make strides towards safer Alberta communities. Additionally, an increase in law enforcement boots on the ground on Alberta streets will create the operational consistency needed to more effectively combat illicit drugs, crime and social disorder. Closer operational alignment between police and community peace officers is a key part of the Alberta government’s approach to confronting urgent public safety issues with strong, cohesive law enforcement across all Alberta municipalities.
This measure is in response to the province stepping up to work collaboratively across all levels of government to address concerns around fentanyl trafficking and border security. Given the complexity and severity of these issues, municipalities have been asked to implement operational alignment to their community peace officer programs immediately. Alberta’s government appreciates the support of municipalities to tackle these growing concerns together through swift and collaborative action.
“Tackling the fentanyl crisis is critical for supporting healthy communities, and for defending Canada’s economic interests during tariff negotiations. Edmonton has been building a collaborative public safety environment for a long time, and we will continue to look for opportunities to collaborate to keep our city safe.”
“Calgary is fully aligned with the province in tackling the complex and devastating drug crisis, and we have led the way with a strong, unified response for the last several years. We recognize the severity of this issue and the critical need for continued collaboration and coordination between Calgary Police Service and our Community Peace Officers. Our integrated approach has amplified our collective impact on public safety.”
Visible officer presence matters and by having community peace officers and municipal police work together in integrated operations, Alberta’s government is bolstering the law enforcement presence that effectively deters criminals and illegal activity. When community peace officers and municipal police work together in integrated street patrols, it will create a visible and unified front against crime.
“The Alberta Association of Chiefs of Police (AACP) reaffirms its unwavering commitment to collaborating with the Province of Alberta to aggressively address the urgent challenges related to fentanyl use/trafficking, including the increased crime and disorder associated with it. The AACP supports strong collaboration and cooperation between the police of jurisdiction and municipal peace officers in an integrated response to public safety concerns. The AACP remains steadfast in its commitment to working together on pressing public safety issues.”
“Alberta Municipalities is pleased to work with the provincial government on this important initiative. Our member communities welcome the opportunity to contribute to a unified approach to tackling drug trafficking and drug use.”
“Alberta’s mid-sized cities are proud to participate in this joint effort. By enhancing law enforcement coordination, we are confident we will create a more effective system that keeps our communities and citizens safe while making real progress on reducing crime and social disorder. We thank the Government of Alberta for working side-by-side with municipalities and ensuring close collaboration on the issues that matter most to our residents.”
The province will monitor the effectiveness of these changes in improving public safety to ensure the best path forward.
Quick facts:
- In mid-February, the minister of public safety and emergency services sent formal letters to 34 municipalities requesting that they immediately begin working with police leadership to align or unify the operational command of their community peace officer programs under the leadership of their police of jurisdiction.
- Municipalities were requested to implement these changes by Feb. 24, 2025.
- There are currently 806 peace officers employed in large and mid-sized municipalities across Alberta.
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