For Immediate Release March 7, 2014 No Progress on Poverty Reduction Evident in Alberta Budget Momentum is pleased to see that

the budget has returned Alberta to an operational surplus but is concerned by the lack of support for Albertas most vulnerable people. This despite previously made promises to eliminate child poverty by 2017 and reduce overall poverty by 2022. The costs of poverty are too great to ignore. A 2012 study estimated that poverty costs Albertans between $7.1 and $9.5 billion each year. This includes health costs, crime costs, and lost opportunity costs to all Albertans. If the Alberta Government is serious about reducing poverty a focused financial investment is required. The Social Policy Framework released last year commits to Protect the Vulnerable and Reduce Inequality. Momentum Public Policy Manager Joe Ceci notes that certainly the provincial poverty reduction strategy will be designed to work towards these goals. However, it is difficult to see what action and investment, if any, was taken towards this in the budget. Momentum is eager to assist the Minister of Human Services and the government in policy development related to poverty reduction. The budget and throne speech announced the creation of the Social Innovation Endowment. This step furthers the transformational initiatives identified in the Social Policy Framework. Momentum is hopeful that as more details come to light there will be opportunity for positive social outcomes through pursuing these dollars. Our organization is further encouraged that these new resources will be lasting and based on results. Meanwhile, however, pressures on preventive social service agencies will continue to grow. Long-standing and successful prevention programs such as the Family and Community Support Services program have seen no increase in funding in over 5 years. Finally, in last years budget, the government announced the cutting of the Alberta Centennial Education Savings grant but the program still functions. Momentum believes that this program holds tremendous value especially for lower income families as a pathway out of poverty. ACES provides $500 for every child born in Alberta to invest in an RESP. Children with RESPs are up to six times more likely to attend post-secondary education. This program is an effective way of helping children and families out of poverty. -30Media inquiries may be directed to: Joe Ceci, Public Policy Manager Momentum Community Economic Development Mobile: 403-560-0187 E-mail: joec@momentum.org
Momentum is a Community Economic Development organization. Our mission is to partner with people living on low incomes in order to increase prosperity, and inspire the development of local economies with opportunities for all. Our vision is that every person in Calgary can have a sustainable livelihood and contribute to their community