Taking ATB Public

Proposal would take 40% of ATB Financial public and reinvest funds into Schweitzer’s plan to get Albertans back to work.

Alberta conservatives deserve to know about the policies of their leadership candidates, and today Doug Schweitzer announced the third part of his plan to create jobs, get spending under control, and get Albertans back to work through a 40% public offering of ATB Financial and reinvestment of proceeds into community infrastructure and venture capital for Alberta. Today’s announcement builds on Schweitzer’s 9/6/3 Plan to reset public sector wages and his 2 for 1 business regulation initiative.

The estimated $1B minimum of proceeds generated from this public offering would be re-invested 50/50 in Alberta through:

- A community infrastructure fund to provide much needed investment in sports, community and cultural facilities across Alberta; and,

- A Venture Capital fund run independently by AIMCO that will be used to invest in Alberta start-ups and small businesses.

ATB Financial is a valuable asset and has a positive legacy in providing important services to rural communities and small businesses across the province. With a 40% public offering, including a two-week exclusive investment period for Albertans, ATB Financial will continue to operate as a crown corporation for the benefit of Albertans, while also being held to increased levels of accountability in the public market.  Alberta is the only province that owns a bank. 

“We can’t afford to be complacent when our family, neighbours, and friends are out of work. A 40% public offering of ATB will allow us to invest in a plan that gets Albertans back to work.

We know ATB does good work and serves rural Albertans, agribusiness, and small business, particularly well. That relationship with Albertans shouldn’t end and that’s why the Alberta government would maintain majority ownership under my plan.

This initiative supports the entrepreneurial spirit of our province through an independently run venture capital fund that will help start new businesses and create jobs. The plan also provides funds for much needed investment in sports, community and cultural facilities across Alberta.  This will strengthen our communities while creating new jobs.

-          Doug Schweitzer, candidate for leader of the United Conservative Party

Further details of Schweitzer’s plan to get Albertans back to work will be released in the weeks ahead. 

Showing 4 reactions

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  • Plan would work but the price of the paper trail would use up 70% of the investment the stipen amounts would gut a bull government
    Is a drain no matter who run it not one of you polititons listen you tell use what we need the people that I listen to are just working souls and with wage cut and the amount going out to big banks and credit cans companies we have to get people out of debt and that should be the target put the money where it would count and not penny’s that’s enough for now
  • $1billion won’t go far debt-wise … and don’t kid yourself, the moment ATB is beholden to public investors then profits will become their only objective and you will see branches close across the province like the big banks have done over the past decade.
  • ATB as a whole should be sold. Two reason – there are many other similar institutions thus a government body is not needed and government should not be in the business of business.

    The funds thus received should be used, in whole, to pay down the debt certainly not given to AIMCO as that is just another arm of government business and finally, I am quite sure that Elaine will support the NDP regardless.
  • I strongly oppose this. This is one of Alberta’s most valuable assets. If ATB is a profitable crown corporation why would this ever be considered. This is the problem with other parties other than NDP. They sell profitable government assets and then brag they can balance the budget. Hardly a big accomplishment, especially in light of the financial institutional corruptions we have witnessed.
    If this new party is going down this road it is a big disappointment. I will support NDP.