OBSERVER ob•serv•er
noun \əb-ˈzər-vər\
: a person who sees and notices someone or something
: a person who pays close attention to something
: a person who is present at something (such as a meeting) in order to watch and listen to what happens
an OBSERVER
Why Conservatives Want Carney in Front of the Finance Committee?
https://www.youtube.com/watch?v=pouJ-4FwdpQ
Conservative MP Sandra Cobena holds a news conference on Parliament Hill on October 27, 2026, reacting to a new report from the Parliamentary Budget Officer (PBO), which found that the federal government will not meet its self-defined fiscal anchors on debt and that the debt-to-GDP ratio is rising.
Cobena argues the government is on track to add $733 billion in debt over five years, that new accounting definitions move operating spending into capital investments, and that interest on the debt now costs about $6,000 per Canadian household. She also discusses her party's motion calling on Prime Minister Mark Carney to appear before the House Finance Committee.
The federal budget will be tabled next week.
TRANSCRIPT
Good morning. I am here to talk about the most recent uh PBO report and our motion in the house today. So in the
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8 seconds
last election, the prime minister promised fiscal discipline. But the PBO has exposed that this that discipline is
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16 seconds
in
fact non-existent with the fiscal anchors that the prime minister has
chosen to use. If you remember in the last uh budget, the prime minister
chose
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25 seconds
to
make up new financial accounting definitions that would allow him to
move operating expenses into capital investments and he dropped the
fiscal
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34 seconds
anchor of debt to GDP. Coincidentally, at the same time when he is taking on staggering amount of debt [snorts] and
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42 seconds
will
not be captured by this fiscal anchor and this is concerning of course
because we see $733 billion over 5 years being taken on by this prime
minister.
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56 seconds
The last prime minister took $700 billion on on debt over 10 years. But
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1 minute, 3 seconds
before that prime minister, all the prime ministers combined took about 700
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1 minute, 9 seconds
billion dollars. So you have one prime minister taking on 7333 billion of debt,
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1 minute, 18 seconds
an amount of debt that generations of prime ministers before him took on. And he's doing that in just 5 years. We are
1:28
1 minute, 28 seconds
calling on the prime minister to show up to the finance committee and to answer questions for that. We have not seen any
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1 minute, 35 seconds
credible plan to repay that debt. That debt is currently costing Canadians about $6,000
1:42
1 minute, 42 seconds
for per Canadian house household just to service. This is not to repay the debt because today interest is the the
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1 minute, 51 seconds
fastest growing expense. It's not healthcare. It's not defense. It is interest. And ultimately this debt and
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1 minute, 59 seconds
this interest must be paid back and it has to be paid back with dollars earned by and taken from hardworking Canadians.
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2 minutes, 6 seconds
But we don't have a plan from the prime minister to repay this debt. the the my biggest fear is that in a week's uh time
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2 minutes, 16 seconds
roughly when the prime minister tables his budget he will stand in the House of Commons and speak about fiscal prudence
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2 minutes, 24 seconds
creating an illusion that our country is in fact better off but what we are seeing is that he is c calling uh debt
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2 minutes, 35 seconds
uh hidden in crown corporations assets let's remember these these are called assets because uh of this idea that they
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2 minutes, 43 seconds
will
be this debt will be repaid. But we have seen for example Canada Post
hasn't turned a profit since 2017 and has lost roughly uh $5 billion.
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2 minutes, 53 seconds
So he's calling debt assets. He is calling operating expenses capital investments in the likes of $19 billion.
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3 minutes, 3 seconds
And
of course, he's not restoring the true fiscal anchor that every other
serious country around the world uses, which is the debt to GDP ratio.
This is
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3 minutes, 13 seconds
uh quite concerning because of course we have a prime minister who is mortgaging our children's debt, our children's
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3 minutes, 21 seconds
future
rather, and with no credible plan to repay it. And so we're calling on
the prime minister to show up to the finance committee to answer
questions.
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3 minutes, 32 seconds
Unfortunately, he does not show up uh to uh the House of Commons often. Uh uh 30
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3 minutes, 38 seconds
30% roughly of times that he shows up and questions are not answered. We deserve answers. Canadians deserve
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3 minutes, 46 seconds
answers.
Uh the cost of running this government is increasing rapidly and it's
putting many of the services that Canadians rely on at risk.
Pierre Poilievre Scathes Carney Govt, Calls For Alberta To 'Stay United & Fight'
Amid Separation Row
https://www.youtube.com/watch?v=Cfe8YU80fGM
..
TRANSCRIP
Thank
you very much, M. And thank you, Calgary. It is wonderful to be
gathered here with all of you at Canada. Strong and free. I like the way
that sounds.
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10 seconds
Strong and free. That's what we want for Alberta. That's what we want for Canada.
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16 seconds
In fact, over the last several months since this referendum was called, Conservatives under the leadership of a
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25 seconds
group called Conservatives for Canada, led by Dne Lloyd, have been campaigning, locking on thousands of doors. I've been
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34 seconds
to 28 different events. This is my third keynote address in a major center. We've raised money and pushed the message of a
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41 seconds
strong and free Alberta within a United Canada. That's what we believe in.
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47 seconds
Obviously, we're working to save you money, save your job, keep you safe, cap immigration, but our mission in all
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56 seconds
of these things is to put Canada first.
Chapter 2: The nature of Canadian freedom
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1 minute, 11 seconds
And Monday, Albertans will be voting on a referendum to have another referendum
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1 minute, 17 seconds
on whether to separate from Canada. Now, their option is to do that or to vote to stay within the country, to continue to
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1 minute, 26 seconds
work for the promise of Canada, a more affordable, safe, and independent country here at home. But the referendum
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1 minute, 33 seconds
question itself really invites yet another question. What is it you're voting to potentially separate from?
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1 minute, 41 seconds
What does it mean to be a Canadian?
1:45
1 minute, 45 seconds
Wilfrid Laurier was asked this question and he asked he was asked like what is the nationality of a country like
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1 minute, 54 seconds
Canada? He couldn't answer it the way many European countries might have done.
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1 minute, 59 seconds
They
would have answered based on race, ethnicity, or sect. But we were
already already mixed up in Canada. We had people from all over the
place. We had
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2 minutes, 8 seconds
the indigenous, the Englishmen, the Frenchmen, the Scots, the Irish, and countless others. And so he could not
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2 minutes, 15 seconds
answer based on a sect. Instead, he said, "Canada is free, and freedom is
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2 minutes, 23 seconds
its nationality." For individuals, Canada's freedom means the freedom to speak your mind, to practice your faith,
Chapter 3: Personal reflection and history
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2 minutes, 32 seconds
to
own property, to work hard, to earn the rewards. It means for
entrepreneurs that they have the freedom to thrive in a free market. And
it means that a
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2 minutes, 40 seconds
province has the freedom to decide what it wants to do within its own backyard.
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2 minutes, 45 seconds
Freedom and promise are really the two words that I felt the greatest growing up in Calgary, Alberta. I remember those
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2 minutes, 53 seconds
early mornings. too early sometimes when my dad would drive me out to Okatokes for hockey practice and we'd see the sl
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3 minutes
sun slowly come up uh over the pink sky across the prairies see the mountain range my dad would have some country
3:09
3 minutes, 9 seconds
music rattling away on the radio and I just felt like that I had the freedom and the promise to achieve anything I
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3 minutes, 17 seconds
wanted. I mean I didn't achieve what I wanted at that time which was to become an NHL hockey player. So I had to settle
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3 minutes, 24 seconds
for politician. But the reality is I looked around my neighborhood at that time and I saw people who were achieving
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3 minutes, 33 seconds
great
lives. They worked as electricians, carpenters, plumbers, police
officers, in the case of my parents, teachers. And they were able to
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3 minutes, 42 seconds
earn a great life o own a home and build a future for their kids. But as I got o older and I I went to University of
3:50
3 minutes, 50 seconds
Calgary and in between pub nights read about our political history and how we got where we are. I realized that the
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3 minutes, 59 seconds
freedom that we enjoyed in this province did not just fall out of the prairie sky. Our English ancestors evolved it
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4 minutes, 7 seconds
into existence starting in the 13th century.
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4 minutes, 12 seconds
It was passed down the ages. It jumped over the pond, crystallized in our parliamentary system, and was inherited
4:19
4 minutes, 19 seconds
by Albertans when we joined Confederation in 1905.
Chapter 4: The conservative vision
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4 minutes, 23 seconds
And that's the thing conservatives understand. Everything great comes from something before us. Countries don't
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4 minutes, 30 seconds
happen by accident. They're built and passed down. Conservatives are the heir to the political tradition that built
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4 minutes, 39 seconds
Canada. We are the party of confederation, the party of John A.
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4 minutes, 42 seconds
Macdonald. who we united this country across a des a disperate land. We brought different people together. Think
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4 minutes, 51 seconds
of
what the fathers had to do to bring about confederation. Different
regions, different economies, different priorities, vastly different
interests.
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4 minutes, 59 seconds
Yet they believed in something remarkable. They believed that the people of British North America could
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5 minutes, 7 seconds
accomplish more together than they would apart. So they built they built a federation, a railroad. They built a
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5 minutes, 15 seconds
country, one of the most successful, peaceful, free, and prosperous nations the world had ever known. The
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5 minutes, 23 seconds
conservative tradition has been to pass down through the ages what came before us. In the words of Burke, it's the
5:30
5 minutes, 30 seconds
contract between the dead, the living, and the yet to be born. And it's the promise that each of those generations
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5 minutes, 38 seconds
will be a little better off than the one that came before. So time and again, conservatives and Canadians, we chose
5:45
5 minutes, 45 seconds
hope over despair, building over blocking, unity over division. And
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5 minutes, 51 seconds
Alberta was one of the great beneficiaries of that vision. It's a testament to what people can build when
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5 minutes, 59 seconds
they have the freedom to do so. It's such a precious inheritance we have here in Alberta.
Chapter 5: Honoring historical sacrifice
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6 minutes, 6 seconds
Let's face it, this inheritance that we had has been defended in town halls and on battlefields
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6 minutes, 13 seconds
with bullets overseas and ballots over here. I say all that because it's easy
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to
take for granted the things that we have. It's easy to forget that none
of this none of this that we have in Canada came easy.
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6 minutes, 30 seconds
Many worked, more suffered, some even died so that we could have the country that we have today. They had to be
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6 minutes, 38 seconds
strong so that we could be free. In two world wars, the strength of our people meant having the courage to do the right
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6 minutes, 46 seconds
thing and see it through to the final hour. our soldiers, sailors, and air
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6 minutes, 53 seconds
crew. They showed up again and again in Korea, Cyprus, Bosnia, Afghanistan, countless other places. More than
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7 minutes
118,000 Canadians gave their lives for this country and our freedom. Thousands of
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7 minutes, 7 seconds
them
from right here in Alberta. That is the true north, strong and free.
The men and women. Yes. Give them a round of applause. Shu. Thank you.
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7 minutes, 19 seconds
[applause]
Chapter 6: Addressing the desire to leave
7:23
7 minutes, 23 seconds
The
men and women who built this province, they weren't quitters. If they
had been, they'd never have made it here in the first place. They had to
travel
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7 minutes, 31 seconds
by boat and train and horse carriage and even by foot to make it ac across the vast expanse, the second largest nation
7:39
7 minutes, 39 seconds
on earth. We owe it to them to stay and fight for what they sacrificed to build, to fight for Canada, to fight for the
7:46
7 minutes, 46 seconds
freedom and the strength that sometimes feels like we've lost and to build our country back up again.
7:55
7 minutes, 55 seconds
So, you know, with this inheritance, with all these blessings, with all the wonder of which I speak, I think a lot
8:03
8 minutes, 3 seconds
of you are asking, why are there some that want to leave? Why is it that there are those who have lost hope?
8:09
8 minutes, 9 seconds
Now,
if you ask them, they won't say anything bad about Canada or their
fellow Canadians. They don't talk badly about our country, its people,
its
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8 minutes, 18 seconds
history, its achievements, its flag. In fact, many of them still love Canada.
8:23
8 minutes, 23 seconds
Some
have told me that they are frustrated patriots. They are men and women
who put on team Canada Maple Leaf jerseys and cheered their country in
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8 minutes, 32 seconds
Olympic games. They celebrated when Sydney Crosby go scored the golden goal.
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8 minutes, 37 seconds
And the older ones still remember screaming their voices horse when Henderson beat the Russians
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8 minutes, 44 seconds
with pride, with joy. They even shed tears at times in those special moments they united and bound together our
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8 minutes, 52 seconds
country. It's the same love that will bring pain to them when they hear the trumpet play the last post on
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8 minutes, 59 seconds
Remembrance Day just a few weeks from now. You see, deep down, I think these people still love Canada. So why are
9:07
9 minutes, 7 seconds
they
voting to have a referendum on potentially leaving the country? Well,
most will tell you that they have complaints with the government in
Chapter 7: Frustrations with Ottawa
9:15
9 minutes, 15 seconds
Ottawa. I can relate to a few of those complaints.
9:19
9 minutes, 19 seconds
They
feel like the country has moved away from its foundations and denied
its basic promise. Youngsters are frustrated they can no longer afford
homes. Working
9:28
9 minutes, 28 seconds
folks can't understand why the grocery prices are so high and they can't afford food and fuel. Trades workers wonder why
9:35
9 minutes, 35 seconds
our government keeps our resources in the ground and their opportunities down there with it. They see immigration
9:42
9 minutes, 42 seconds
that's
out of control and a justice system that turns loops violent criminals
on our streets. All Albertans wonder why they send so much to Ottawa
9:52
9 minutes, 52 seconds
in tax dollars and get so little in return. But here's the thing. There are Canadians right across the country that
10:00
10 minutes
wonder the very same things. To those people who are thinking about taking out their frustration on the current
10:08
10 minutes, 8 seconds
government by voting for separation in the referendum, I say this. Canada is more than a government. It is a people,
10:16
10 minutes, 16 seconds
a flag, a land, a history, and a promise. What you really want, what you really want to restore is the Canada
10:25
10 minutes, 25 seconds
that you knew and still love with solid borders, safe streets, affordable food and homes, boundless resource, wealth,
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10 minutes, 32 seconds
and opportunity for everyone. A country with a common history and identity that holds it all together.
Chapter 8: Restoration over separation
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10 minutes, 40 seconds
That
is that is the Canada that we all knew and still love. That is the core
of who we are. So our real goal should not be separation. It should be
restoration.
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10 minutes, 50 seconds
It
should not be to tear down our country, but to build it up. It should
be to build a country on the solid and the oldest foundations. The
answer,
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10 minutes, 59 seconds
therefore, is more than ever, we need to be more Canadian than we ever have been, freer than ever, stronger than ever,
11:06
11 minutes, 6 seconds
prouder
than ever, richer and more affordable than ever. But to do that, we
must stay and fight for our country. And that's what conservatives will
do.
11:16
11 minutes, 16 seconds
[applause]
11:21
11 minutes, 21 seconds
Quitting is the easy way out. And Albertans are not quitters. We don't just take our ball and go home.
11:29
11 minutes, 29 seconds
We don't walk away. We stand and fight for what we believe in and we reflect upon all that we have.
11:37
11 minutes, 37 seconds
Alberta's story is one of hardworking men and women who never gave up. Turning prairie grasslands and forests into
11:45
11 minutes, 45 seconds
treasure chests of riches, farmers and forest workers, ranchers and riands, entrepreneurs and explorers, artists and
11:54
11 minutes, 54 seconds
adventurers, warriors and workers, pioneers and patriots, all living the promise of Canada. For most of our
12:01
12 minutes, 1 second
history, can Canada allowed us as Albertans the freedom to fulfill our potential and become the richest place
12:08
12 minutes, 8 seconds
at
various times, the richest place anywhere on earth. Remembering this
partnership is important because much of this referendum debate has
rightly
Chapter 9: The benefits of partnership
12:16
12 minutes, 16 seconds
focused on what Canada, Alberta has done for Canada, but and it's easy to focus on the flaws of the country. But while
12:24
12 minutes, 24 seconds
we focus on those things, we must not forget and we must not ignore what Canada has done for Alberta. Some things
12:32
12 minutes, 32 seconds
are
obvious. The railway, the highway, all of the national infrastructure
that connects us through the country to the rest of the world. Being
part of this
12:40
12 minutes, 40 seconds
means that we're part of the second largest country anywhere on earth. We are part of a country that is 25 times
12:48
12 minutes, 48 seconds
the size, has seven times the GDP, and eight times the people than we would have on our own. We have a vital link
12:56
12 minutes, 56 seconds
through this massive land of ours through to the sea from Vancouver to Asia, from Halifax to Europe. We are the
13:04
13 minutes, 4 seconds
second
biggest country in the world, but the biggest when it comes to oceanic
coastline. A bigger market, a bigger military, and a bigger land mass.
It all
13:12
13 minutes, 12 seconds
means
that we have more room to travel, more room to breathe, more room to
trade, more room to grow than we would have if we were isolated and
alone. It
13:20
13 minutes, 20 seconds
means being freer and more open than we would be by ourselves. So, we can choose. We can choose to be part of that
13:28
13 minutes, 28 seconds
bigger vision or we can ensure that we close the door and limit the size and
13:35
13 minutes, 35 seconds
the strength of our people. Part of our mission should be to be a bigger and even more powerful Alberta. To move an
13:42
13 minutes, 42 seconds
entire nation in the direction we want to lead the nation to become bigger, bolder, and more hopeful, stretching
13:49
13 minutes, 49 seconds
from sea to sea to sea. Leaving all that behind would make us smaller. Perhaps more importantly, it would mean leaving
13:58
13 minutes, 58 seconds
behind the people that we love across this country. So my message to Albertans is this.
Chapter 10: Call for national solidarity
14:06
14 minutes, 6 seconds
Don't
leave your fellow Canadians behind. Lock arms with them. Lock arms with
Canadians who want to restore the promise of Canada. Lock arms with
Newf
14:15
14 minutes, 15 seconds
Finland
and Labrador in their mission to double oil and gas production. Lock
arms with Quebecers who want to have full autonomy over their provincial
14:23
14 minutes, 23 seconds
jurisdiction just like we Albertans do.
14:41
14 minutes, 41 seconds
lock arms with indigenous Canadians to stop the federal government's gun grab and let our hunters, farmers, and sport
14:48
14 minutes, 48 seconds
shooters
keep their property. Lock arms with the police unions in Ontario who
are crying out for tougher criminal justice so that we can keep their
14:57
14 minutes, 57 seconds
communities and ours safe. lock arms with BC to build LG liquefaction terminals so we can liquefy that gas and
15:04
15 minutes, 4 seconds
sell it for hundreds of billions of dollars overseas, making our province even richer. Lock arms with ambitious,
15:11
15 minutes, 11 seconds
hardworking young people for homes, jobs, and hope right across the country.
15:16
15 minutes, 16 seconds
Lock
arms with all Canadians to save money and jobs, to keep people safe, to
cap immigration, and to put Canada first. Lock arms for the affordable,
15:25
15 minutes, 25 seconds
safe, and independent Canada we all deserve.
Chapter 11: Closing appeal for unity
15:29
15 minutes, 29 seconds
Now, I've tried to be the voice for the voiceless. Those whose lives have grown particularly hard over the
15:37
15 minutes, 37 seconds
last several years. And many of them are right here. Many of you are right here in Alberta. And I know what you're
15:44
15 minutes, 44 seconds
thinking.
That the vote on Monday is a chance to sound the alarm, to put out a
distress signal, maybe even just to send a message.
15:56
15 minutes, 56 seconds
Your frustration is understandable, but your problem, our problem is not with our fellow Canadians. We're in this
16:05
16 minutes, 5 seconds
together. The Windsor waitress I met the other day working three jobs to feed her kids has the same struggle as the single
16:12
16 minutes, 12 seconds
mom in Waywright. The 35-year-old couple in New Brunswick that can't afford a home has the same fight as the rural
16:20
16 minutes, 20 seconds
Alberta couple. Put a minor from northern Ontario next to an oil sands worker in Fort Mack or an offshore
16:28
16 minutes, 28 seconds
worker
from Newfoundland. In fact, many of them all work together and travel
together across the country. I think there's even a petition going
around to
16:35
16 minutes, 35 seconds
make Fort Mack part of Newfoundland and Labrador.
16:39
16 minutes, 39 seconds
We're all one. Same goals, same values, same struggles, same people.
16:46
16 minutes, 46 seconds
We have many faces from many places, but we are one people and we must stick together. From Toefield to Timmans,
16:55
16 minutes, 55 seconds
Drumheller to Drummondville, St. John's to St. Albert, from Calgary to Cambridge to Cornerbrook to Cranbrook, we are all
17:03
17 minutes, 3 seconds
Canadians. Let's unite around what we have in common rather than tearing ourselves apart by what divides. common
17:10
17 minutes, 10 seconds
values, common history, common purpose, common sense for a common people. In the words of the great Prairie populist
17:19
17 minutes, 19 seconds
Prime Minister John Deanbaker, I am a Canadian, a free Canadian, free to speak without fear, free to worship God in my
17:27
17 minutes, 27 seconds
own
way, free to stand for what I think right, free to oppose what I
believe wrong, free to choose those who shall govern my country. This
heritage of
17:36
17 minutes, 36 seconds
freedom I pledge to uphold for myself and for all of mankind. God bless a strong Alberta within a united Canada.
Thank you very much, distinguished guests from Canada and
0:10
10 seconds
around the world. It is an honor to address you today and to formally conclude this summit. I want to express
0:17
17 seconds
my
appreciation on behalf of myself and on behalf of the 20th prime
minister of Canada, the right honorable Jean Cretchan. I want to express
our
0:26
26 seconds
appreciation to the organizers at CPP, at PSP, and the government of Canada for
0:33
33 seconds
inviting us here and also for giving me the podium today. Um, the prime minister
0:40
40 seconds
said to me yesterday, I really want to thank you for doing this. Said, well, you may want to wait and see what I'm
0:46
46 seconds
going to say first. I I used a line from uh from that famous British TV show. I said, you know, I am a partisan
0:55
55 seconds
appointment.
Your decision to give me a microphone is a courageous decision, Prime
Minister. In any case, I've been delighted to attend this event and even
1:04
1 minute, 4 seconds
more pleased to see so many familiar faces in this room today. I have met with many of you in your own countries
1:12
1 minute, 12 seconds
these
past few years. And I consider you friends. And I thank you each and
every one of you for making the journey to spend this time here with us
in Canada.
1:24
1 minute, 24 seconds
I consider your attendance an act of friendship and a vote of confidence in our country at a crucial time.
1:34
1 minute, 34 seconds
Now, I know that as board chair of the Alberta Investment Management Corporation, you expect me to speak
1:41
1 minute, 41 seconds
about Canada as an investment destination, and I will. I tell people at Aimco, we are not an economic
1:50
1 minute, 50 seconds
development fund. We are global investors. We seek the best returns from anywhere that we can for our clients.
1:59
1 minute, 59 seconds
And for all those reasons, we have over 40% of our investments in this country.
2:06
2 minutes, 6 seconds
So we see lots of opportunity in Canada.
2:10
2 minutes, 10 seconds
That's
my ANCO hat. However, I am also a former prime minister and as such, I
cannot help but address the current situation that Canada faces.
2:21
2 minutes, 21 seconds
It is a situation in which given the ongoing violations of our trade agreement by the United States and the
2:30
2 minutes, 30 seconds
current impass in negotiations, our country felt compelled to walk away and to see a trade war commence in earnest.
2:51
2 minutes, 51 seconds
This had to be a very difficult decision. But I do believe that our government had no choice but to take
2:59
2 minutes, 59 seconds
this path. I say that as one who has long been and known to be a great
3:06
3 minutes, 6 seconds
admirer of America and one who believes that our close proximity and close relationship to the United States has
3:14
3 minutes, 14 seconds
been among this country's most precious assets. However, it is clear it is clear that the current
3:23
3 minutes, 23 seconds
US administration views our level of economic integration as incompatible
3:30
3 minutes, 30 seconds
with our separate sovereignty. Thus, to maintain that sovereignty, we must pursue diminished reliance upon the
3:39
3 minutes, 39 seconds
United
States. There will be significant costs to this effort, but those are
costs that I hope and believe Canadians are able and prepared to accept.
3:52
3 minutes, 52 seconds
I find this all I do find this all very sad just as equally necessary. And I
4:01
4 minutes, 1 second
believe that in this necessity, our country will also discover and is discovering opportunity.
4:20
4 minutes, 20 seconds
economic. It is an opportunity for Canada to rediscover a long-term agenda for economic prosperity, an opportunity
4:28
4 minutes, 28 seconds
to realize our true potential as a country, which I believe, to be frank, we have come nowhere close to achieving.
4:38
4 minutes, 38 seconds
We in this room all know very well that this is a competitive world fraught with shifting
4:47
4 minutes, 47 seconds
politics, fragile supply chains, and other transactional pressures now more so than recent decades. In the face of
4:56
4 minutes, 56 seconds
such change, Canada cannot simply blame external factors or make other excuses
5:04
5 minutes, 4 seconds
to explain away the difficulties that we face. Leadership is defined by taking accountability for what you can control.
5:13
5 minutes, 13 seconds
And today, more than ever, Canada must become more internally competitive, more externally connected, and more truly
5:22
5 minutes, 22 seconds
sovereign than it has been. That is the opportunity.
5:27
5 minutes, 27 seconds
And obviously, I do want to speak about the Canadian economy.
5:32
5 minutes, 32 seconds
Canada
possesses, I know you've heard it throughout the conference, Canada
possesses a unique economic structure and therefore unique
opportunities. We
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5 minutes, 42 seconds
have a healthy economic presence across the full range of economic activities,
We
must be committed to retaining this incredible economic diversity. And
we cannot allow the Trump administration to hollow out our industrial
capacities.
6:05
6 minutes, 5 seconds
Yet, despite this economic diversity, it remains my view that our resource
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6 minutes, 12 seconds
endowment is our special comparative advantage.
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6 minutes, 17 seconds
We
have abundant resources, renewable and non-renewable, of every type,
way beyond our conceivable needs in almost every category.
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6 minutes, 28 seconds
Further, these resources are found in an unmatched rule of law business environment with the highest of environmental
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6 minutes, 36 seconds
standards and far removed from conflict zones. That is a comparative advantage.
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6 minutes, 43 seconds
Now, I'm going to keep my comments brief. So, I want to focus on one thing.
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6 minutes, 51 seconds
I know that at AMCO we are rightly known as one of the maple eight but dare I say that we are also the wild rose one
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7 minutes, 1 second
that is the sole major fund based in the province of Alberta.
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7 minutes, 5 seconds
So allow me to speak a bit from that perspective particularly from the perspective from Alberta's position as
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7 minutes, 13 seconds
the center of the country's energy industry.
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7 minutes, 28 seconds
As I said repeatedly when I was Canada's prime minister, Canada should be an
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7 minutes, 35 seconds
energy superpower. Whatever the energy mix of the future, Canada should be a major and a global supplier.
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7 minutes, 45 seconds
We are fifth largest in the world in natural gas production, fourth in the production of oil.
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7 minutes, 52 seconds
Notes say fourth in oil reserves. Rich Krueger says third. I'll take that. He knows more than I do. We are third in
8:00
8 minutes
hydroele
electricity. We are second in uranium. All of it today from
Saskatchewan, which with the development of new mines there will make us
the
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8 minutes, 8 seconds
largest
global producer within a few years. Great credit for that is by the way
due to Premier Mo and the government of Saskatchewan.
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8 minutes, 18 seconds
And by the way, we are not just a uranium miner. We are a builder and refurbisher of nuclear re reactors with
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8 minutes, 26 seconds
a worldleading regulatory review agency for the development of SMRs.
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8 minutes, 33 seconds
And of course, as a country, we have plenty of investments in bofuels and renewables. and we possess the raw
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8 minutes, 42 seconds
materials necessary for further development of those sectors.
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8 minutes, 47 seconds
In 2015, Canada was poised to become that energy superpower.
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8 minutes, 54 seconds
Today, we are not. Why? Because of deliberate policy choices that followed over the next decade. But there is no
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9 minutes, 3 seconds
point bemoning what is past, especially because the opportunity of becoming that global
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9 minutes, 11 seconds
energy superpower is fortuitously offering itself to us. Once again,
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9 minutes, 19 seconds
I do congratulate our current federal government on the measures it has taken to fasttrack major project approvals,
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9 minutes, 28 seconds
especially for projects in the oil sands. These changes are welcome and they are very important. However, more
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9 minutes, 37 seconds
does need to be done. The burdens and restrictions that do not exist elsewhere simply must be removed in Canada. And we
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9 minutes, 46 seconds
need to provide comprehensive reformed regulatory regulatory reviews and
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9 minutes, 53 seconds
permitting processes so that Canada can provide investors with a certainty of a science-based decision on both resource
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10 minutes, 2 seconds
and related infrastructure projects within a fixed and reasonable time frame as we had set up a decade ago.
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10 minutes, 10 seconds
Ironically, if we do not do these things as a country, the Americans will continue to
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10 minutes, 18 seconds
be our sole customers and they will not lack the urgency that we have lacked here in Canada, nor will many others in
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10 minutes, 27 seconds
the world. That is why I have to say that I am very encouraged by the detailed comments the prime minister made today
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10 minutes, 35 seconds
on doing just some of these things and I welcome them. I believe that Canada's new government is committed to further
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10 minutes, 44 seconds
reforms in these areas and committed to their urgency. And I know that our premier, Premier Smith, will continue
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10 minutes, 54 seconds
using that what we call Alberta diplomacy to remind our federal government of that
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11 minutes, 1 second
because becoming that energy superpower is no longer just good business. Not
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11 minutes, 7 seconds
only in my view good politics, it is critical to our prosperity and indeed to
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11 minutes, 14 seconds
our
survival as a country. Critical to raising our horizons beyond narrow
domestic considerations to address global opportunities and imperatives.
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11 minutes, 27 seconds
And to be blunt, we need not worry about demand from either customers or
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11 minutes, 33 seconds
investors. As I have been reminded by many of you in this room and others around the world for a decade, the world
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11 minutes, 42 seconds
is
developing an unprecedented demand for energy in all its forms. And
they want it from Canada, provided we want to get it out of the ground
and sell it.
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11 minutes, 55 seconds
But this is not just about other markets. We need this energy not only for its export potential. We also need
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12 minutes, 2 seconds
it right here in Canada for our own reindustrialization and technological innovation as well as
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12 minutes, 9 seconds
of course as a critical signal that Canada is indeed once again a serious investment destination.
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12 minutes, 17 seconds
And that brings me back to the purpose of this conference. As I've said, we are honored that you have joined us. I
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12 minutes, 25 seconds
congratulate the federal government for holding this conference. I believe the first of its kind in Canada.
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12 minutes, 34 seconds
It is such a great innovation that I wish I had thought of it.
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12 minutes, 39 seconds
But we all know that it is only a start and to realize its potential, we need ongoing determination and urgency here
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12 minutes, 49 seconds
in Canada. I do hope that this conference I do hope that this conference is not a one-off. I think
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12 minutes, 56 seconds
this
conference needs to become regular and we need your input delegates
from everywhere. We need your input to make it bigger and better going
forward.
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13 minutes, 7 seconds
Now just in conclusion, I know that you all have come here to discuss commercial opportunities,
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13 minutes, 16 seconds
but it is my hope that in these conversations, you have deepened the trust and affirmed
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13 minutes, 23 seconds
the values upon which commercial partnerships are built. Because friends, this country offers something even more
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13 minutes, 31 seconds
precious than our abundant raw resources and our plentiful business opportunities.
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13 minutes, 39 seconds
It offers a mindset of respect, of collaboration, and of partnership.
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13 minutes, 46 seconds
No matter their industry, Canadians are fundamentally in the business of building trusted partnerships that benefit both sides.
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13 minutes, 57 seconds
This orientation for partnership has been in Canada's DNA since our confederation was first established in 1867.
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14 minutes, 7 seconds
It
is chiseled in our national character like the granite of the Canadian
shield and it flows across the boundless expanse of our freshwater.
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14 minutes, 17 seconds
It is also the cornerstone of real value creation. And in that vein, I hope that this gathering is merely the beginning
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14 minutes, 26 seconds
of building such partnerships. In the meanwhile, I really do want to thank all of you once again, each and every one of
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14 minutes, 35 seconds
you for coming here. Godspeed wherever your travels may take you next. Merci.
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14 minutes, 43 seconds
God bless Canada. [applause]
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14 minutes, 51 seconds
[applause]
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14 minutes, 56 seconds
[applause]
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15 minutes, 5 seconds
Well, well, thank you, Mr. Prime Minister. Your words are warmly received and they've
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15 minutes, 13 seconds
captured
the spirit of the moment and the bright future that lies ahead for this
country. What a way to close out the first ever Canada Investment
Summit.