Press releases November 19, 2014

Government of Canada considering more ultra-long bonds
Introducing Railway Operating Certificates

Say no to tax increases - Wildrose

Alberta arming communities to fight climate change

Government of Canada considering more ultra-long bonds

Finance Canada

The Government of Canada is considering issuing more ultra-long bonds, subject to favourable market conditions, through a reopening of the 2.75% Government of Canada bond maturing on December 1, 2064 using a syndicated process.

As first announced in the Debt Management Strategy for 2012–13, the issuance of bonds in the ultra-long sector contributes to a reduction in refinancing risk at a low cost, in line with the key objectives of the medium-term debt strategy, which are to reduce exposure to interest rate and rollover risks.
Introducing Railway Operating Certificates

Transport Canada

Monitoring railways to ensure they meet basic safety requirements

Transport Canada has a robust railway safety program in place and continuously looks for ways to make the railway system safer. Based on recommendations from the 2007 Railway Safety Act review, the Act was amended to include new regulation-making powers that would enable the department to further enhance its oversight of railway safety. The new Railway Operating Certificate Regulations will enhance oversight of railway safety.

Railway Safety Oversight

Transport Canada’s oversight program includes monitoring companies through audits and inspections to ensure they follow the rules, regulations and engineering standards in place, as well as the overall safety of railway operations.
Oversight under the new Railway Operating Certificate Regulations

When these regulations come into effect on January 1, 2015, all federally regulated railway companies and provincially regulated railway companies operating on federally regulated track will be required to hold a valid Railway Operating Certificate in order to operate in Canada. Railway companies must also obtain a Certificate of Fitness from the Canadian Transportation Agency ensuring that the company holds adequate insurance to operate.

Before a Railway Operating Certificate can be issued, companies must complete an application form and submit it to Transport Canada for approval. To obtain a Railway Operating Certificate, companies need to meet baseline safety requirements. These requirements are different for federally regulated railway companies and provincially regulated railway companies operating on federally regulated track , and differ based on operations that involve the transport of passengers or freight.

The conditions of issuance include essential railway safety rules that a company must submit to Transport Canada for approval prior to obtaining a Railway Operating Certificate.

The general requirements for railway companies to obtain a Railway Operating Certificate include:

• Canadian Rail Operating Rules;
• Rules respecting the management of fatigue for operating employees, medical fitness for duty of employees who hold positions that are critical to safe railway operations and employee qualifications;
• Rules for the Operation and Maintenance of Line Works by Railway Companies;
• Rules for Companies that Transport Passengers (if applicable); and
• Rules for Companies that Transport Freight (if applicable).

The general requirements for local railway companies to obtain a Railway Operating Certificate include:

• Canadian Rail Operating Rules;
• Rules for Companies that Transport Passengers (if applicable);
• Rules for Companies that Transport Freight (if applicable);

These new regulations empower the Minister of Transport to put an immediate stop to a company’s operations by suspending or revoking a company’s certificate when a serious violation is identified.

Existing companies have a two-year grace period, until January 1, 2017, to obtain a Railway Operating Certificate.

Say no to tax increases - Wildrose

Wildrose Party

With the price of oil heading to $70 a barrel, Premier Prentice needs to be crystal clear with Albertans if he’s planning to raise taxes to meet his budget shortfall, the Wildrose Official Opposition said today.

After asking pointed questions to the Premier, Prentice failed to rule out levelling tax increases on Albertans, saying the government will deal with the specifics by the time the next budget is presented.

“The new management is starting to look a lot like the old management; floating trial balloons to make Albertans pay more taxes, while their government can’t balance the budget and fails to deliver on promises to improve core government services,” Wildrose Leader Danielle Smith said. “Albertans don’t want new taxes, they want a new generation of leaders committed to putting an end to wasteful spending, and presenting a forward-looking plan to balance the budget.”

Smith noted Alberta’s current income and corporate tax structure brings in more revenue per capita than any other province in Canada.

Wildrose Finance Critic Rob Anderson said the PCs have no mandate to raise taxes.

“If the PCs want to raise taxes, then they need to campaign on it and get a mandate from Albertans,” Anderson said. “Instead of looking to dig into people’s pocket books, it’s time to get serious about controlling spending."

Alberta arming communities to fight climate change

Government of Alberta

The Municipal Climate Change Action Centre’s efforts to reduce greenhouse gas emissions and support local energy efficiency initiatives are getting a boost from the Alberta government.

The Centre is a one-stop shop that provides tools and resources to help Alberta municipalities through education, technical assistance and expertise, best practices, policy review and rebates to help municipalities retrofit their buildings.

Since 2009, the Action Centre has supported $4.2 million in municipal energy efficiency retrofit projects in 54 buildings throughout the province as part of its Taking Action to Manage Energy (TAME) Buildings Initiative. This will result in a reduction of 2,500 tonnes greenhouse gas emissions per year.

“Municipalities are important leaders and partners in advancing Alberta’s efforts to address climate change. This funding will ensure municipalities can continue to curb greenhouse gases.”  Kyle Fawcett, Minister of Environment and Sustainable Resource Development

“The Action Centre’s programs have enabled municipalities across Alberta to implement changes that will decrease their greenhouse gas emissions and improve the energy efficiency of their operations. These changes have reduced operating costs for municipal buildings and increased awareness of the importance of climate change initiatives.”  Gerald Rhodes, Executive Director, Alberta Association of Municipal Districts and Counties

“The Action Centre has been an invaluable resource for Alberta’s municipalities, enabling them to enhance their sustainability by increasing energy efficiency and achieving measurable greenhouse gas reductions. AUMA greatly values the Alberta government’s continued support of the Action Centre, and we look forward to our ongoing partnership to facilitate climate action at the local level.”  John McGowan, Chief Executive Officer, Alberta Urban Municipalities Association

The new $2 million grant comes from the Climate Change and Emissions Management Fund and will be used for the operation of the Centre and to support implementing locally-driven initiatives. The Alberta government also provided $2 million to help establish the Centre in 2009.