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March 3, 2006

Jack Mintz, President and CEO of the C.D. Howe Institute, today urged Albertans to avoid a future economic bust with tax reform, and proposed two major ideas. In a speech to the Calgary Chamber of Commerce entitled "Big Tax Reform Ideas for Alberta's Prosperity," Dr. Mintz warned that over-confidence has led to far too much public spending by Alberta and far too little strategy development to ensure balanced growth in the future. He proposed two taxes for consideration: a Personal Expenditure Tax (PET), which would tax personal expenditure rather than earnings and income from savings; and a Business Value Tax, applied to business revenues from the sales of goods and services.