Paul Profile picture
Jun 29 5 tweets 2 min read
Scathing AG report directed at (former Minister of Finance) Travis Toews on COVID19 spend. For example, on the topic of $1.3 billion from Ottawa: "We could not trace funds... to see who spent the money and what was achieved" #AbLeg

oag.ab.ca/wp-content/upl…
On "Safe Return to Class" funding, also scathing: "we could not identify how much was spent on individual initiatives, nor were results reported." Not sure many parents will find that comforting after a disastrous school year.
Albertans really should read the Auditor General's report, but to summarize: Travis Toews/TBF didn't really track $4 billion in spending, and the gov has no idea what was achieved (good or bad) for those billions. #ableg
Two most surprising things: (1) Toews is an accountant. Yet, he's had billions in accounting errors caught be the AG, and now 4 billion questions; (2) the AG already made recommendations to remedy potential problems identified today, they were ignored 🤦‍♂️
I'll end this tread with the obvious: not a good day for UCP leadership aspirant Toews. Kinda shredding the "competent" brand he's been trying to build.

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More from @AbBretscher

Oct 16, 2020
The circus that is Bill 10 and the seriously interesting internal rift within the UCP

Recall: Bill 10 (passed this spring) changed the Public Health Act. Allowed a minister to create new law, bypassing the elected legislature #AbLeg

edmontonjournal.com/news/politics/…
Th legal community (see below for example), the NDP, and citizens who all noted that Bill 10 was unconstitutional, but UCP MLAs voted to jam it through the legislature in 48 hours during the pandemic.

ualawccsprod.srv.ualberta.ca/2020/07/7146/
Then Premier Kenney realized the backlash, and noted Bill 10 when (way) too far. He created the Public Health Act Review Committee to fix his changes to the Act

edmontonjournal.com/news/politics/…
Read 8 tweets
Oct 14, 2020
AB Finance Min press conf, where he launched Budget 2021 consultations. First thought: Asked whether approach taken yesterday on AHS (see below) would apply to all ministries, he said yes. Hence, more jobs on the chopping block #ableg

edmonton.ctvnews.ca/as-many-as-11-…
Thought two: Finance Min continues to talk about the Triple Black Swann event hitting AB. Not sure that it was "impossible" to predict Saudi/Russia deal falling apart. It was by definition tenuous. #AbLeg

investopedia.com/terms/b/blacks….
Thought three: Finance Min continues to say AB economy was really looking up heading into COBVID. This is patently false: 50,000 jobs lost in year of Kenney mandate, GDP declined by 0.6%, and (who can forget) deficit doubled to $12 billion #AbLeg
Read 4 tweets
Sep 20, 2020
FACT CHECK: AB tapped the debt markets 24 times between March 20 - April 30. Now up to 44 separate debt issuances since pandemic, borrowing $21.03 billion.

Does the Premier not know his Finance Ministry publishes this data? #ableg

cbc.ca/news/canada/ca…
If you want to see the trade date, settlement date, par amount, coupon rate, maturity date, etc., of every issuance it's right there on the Alberta Treasury Board and Finance - Investor Relations - website: alberta.ca/assets/documen…
Never going to suggest that it was "easy" to move those deals, or that Finance folks didn't have to hustle, or that we didn't have to pay higher spreads, but to suggest Alberta was truly frozen out doesn't comport with the facts.
Read 4 tweets

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