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Wildrose accuses NDP of interfering with Alberta investments

The logo for Alberta Investment Management Corp. (AIMCo) is shown.
The logo for Alberta Investment Management Corp. (AIMCo) is shown. THE CANADIAN PRESS

A spokesperson for Finance Minister Joe Ceci said Tuesday the NDP is not interfering with the business decisions at Alberta Investment Management Corporation (AIMCo).

He said the government wants to leave the investment decisions up to the professionals and added the opposition parties are “building up something out of nothing.”

The response comes after Alberta’s opposition parties accused the NDP government on Monday of interfering with AIMCo.

AIMCo manages $90 billion in assets including the Alberta Heritage Trust Fund and is supposed to be kept at arm’s length from government.

The Wildrose Party said Monday the NDP has changed legislation so they can get involved in the corporation. The PC Party also issued a statement, saying the NDP is deceiving Albertans.

Scroll down for the statement from the Alberta PC party

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Wildrose Finance Critic Derek Fildebrandt said his party has obtained documents that show the NDP forcing AIMCo to invest in certain Alberta companies, but only if those companies praise the NDP.

READ MORE: Alberta announces $100M in investments to diversify economy

“As soon as you have politicians involved in investing money, for any other reason other than earning the best possible return for Albertans, and you infuse politics into it, they start making investment decisions that are not the best.”

Fildebrandt said freedom of information documents show direct political interference from NDP cabinet ministers and the premier’s office, trying to get private businesses in Alberta to praise the NDP in return for the money.

Read the full statement from Alberta PC Party below:

Calgary – Today, the extent to which the NDP has been meddling with the Alberta Investment Management Corporation’s (AIMCo) independence was revealed, proving the government has been actively and intentionally misleading Albertans.

“All Albertans should be deeply concerned with this political interference in AIMCo’s operations and investment strategy,” said Progressive Conservative Caucus Leader and Finance Critc, Ric McIver. “Emails obtained by the National Post show that the Finance Minister, the Economic Development and Trade Minister and the Premier have been lying to Albertans about inappropriately using the Heritage Fund to further the NDP agenda.”

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In addition to misrepresenting AIMCo’s recent investment in Calfrac, causing NDP political staff to interfere further with AIMCo’s independence by demanding it support the government’s false claims, the NDP has also made legislative changes to allow for political appointments of board members.

“The NDP has wasted billions in taxpayer dollars, and borrowed billions more, to fund ideological projects that provide little benefit to hardworking Alberta families,” said McIver.

“To use our long-term savings to further the NDP worldview and then lie about it is shameful and displays a level of arrogance that we have come to expect from this government. Our caucus is calling on the Premier to come clean with Albertans on the extent of her government’s deception and to immediately take steps to restore AIMCo’s independence.”

With files from Alyssa Julie, News Talk 770