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The Fair Deal Panel reports today. Back in February, I had the opportunity to speak to some of the panel members, and I reminded them that it was less than 100 years ago that Newfoundland was sending salt cod to the prairies as relief. I suggested that any recommendations...
should account for the possibility that Alberta might face hard times. Little did I know that weeks later the pandemic would collapse the global economy, and our oil would be trading under $0/barrel. Yet here we are.
When we think about an Alberta Pension Plan, we assume that we will continue to have the youngest provincial population. But economic shocks can change demographics pretty quickly. Here's a cautionary tale:
I hope that the panel took advantage of the pandemic to introduce some caution and humility into their recommendations. Because we will be better off as part of a larger community that can share risk as we navigate the post-COVID reality.
And I believe we'll be better off being part of a political community that challenges our assumptions and asks us to explore different possible future paths. /FIN
