'Bring it on': Notley responds to Kevin O'Leary's $1M offer to step down

If Alberta Premier Rachel Notley was fazed by Kevin O'Leary's call for her to step down, she didn't show it.

See Full Article

Instead, she challenged the Canadian business mogul to "bring it on."

Speaking to Toronto radio station Newstalk 1010 on Monday, O'Leary offered to invest $1 million in Canadian energy companies if Notley resigns.

"She has got to go," said O'Leary, chair of O’Leary Financial and on on-air contributor. "Let me be the first to make that offer."

O'Leary later said he meant no "disrespect" by his offer, but he encouraged other Canadians who have the financial means to put up similar offers.

“It may not be enough but it is a symbolic gesture,” he told CTV’s Power Play. “I would like other investors like me to do the same thing I think it would be great for us to be able to invest back in Canada but when we actually understand what we're investing in. “

During a press conference on Tuesday, Notley compared O’Leary’s criticism to what she faced during Alberta's election last May.

"Well, you know the last time a group of wealthy businessmen tried to tell Alberta voters how to vote I ended up becoming premier," she said.

"So, if now we've got a wealthy businessman (from Toronto) who wants to tell Alberta voters how to vote – I say, bring it on."

O'Leary said Monday that his offer comes as an individual concerned about the country and the economy. He said the Alberta government is currently "in freefall."

O’Leary said energy companies remain in the dark about potential changes to royalties, as a panel looking into what the province charges the industry has yet to release its findings. In the meantime, the NDP government has raised corporate taxes and is moving forward with plans to raise the minimum wage in the province.

Notley said Tuesday that the energy industry should not expect an increase in costs as a result of the royalty review.

Amidst low oil prices through 2015, the energy sector has seen 40,000 job losses, many of which were in Alberta, according to the Canadian Association of Petroleum Producers.

"All that talent, all those people that know what they're doing are losing their jobs by the thousands. All because of a government that just by some unfortunate chance got elected," O'Leary said. "(A government) that's never run an energy-based economy. What a disaster."

O'Leary said that Notley's actions amounted to "financial malfeasance" and her tenure has been plagued by "incompetency."

"It's over. You know you're a thousand feet underwater and you can't breathe," O'Leary told Power Play.

"She doesn't know what she's doing -- it is a catastrophe," he added.

O'Leary said that Notley has left Canada's "most important industry" -- the energy sector -- in "tatters," and predicted that Alberta could shed another 10,000 jobs in the next two weeks.

He also criticized the province's corporate tax increases and its plan to implement a tax on carbon emissions.

The business mogul said that the premier needs to get "get her act together" and meet with the federal government to come up with a plan to address the province's economic woes.

O'Leary said Monday Alberta needs a leader who has worked in the energy industry.

"Now, because of government policy, every leader of a private sector energy company in Canada is unsure of what's going to happen next," he said. "It's like a horror movie. It's an unbelievable series of events."



Advertisements

Latest Economic News

  • Homeland Security chief mulling greatly expanded airplane laptop ban

    Economic CBC News
    Department of Homeland Security Secretary John Kelly said Sunday he's considering banning laptops from the passenger cabins of all international flights to and from the United States. That would dramatically expand a ban announced in March that affects about 50 flights per day from 10 cities, mostly in the Middle East. Source
  • U.S. mulls banning laptops on all flights to and from the country

    Economic CTV News
    WASHINGTON -- Homeland Security Secretary John Kelly said Sunday he's considering banning laptops from the passenger cabins of all international flights to and from the United States. That would dramatically expand a ban announced in March that affects about 50 flights per day from 10 cities, mostly in the Middle East. Source
  • Most Airbnb hosts still not registered in Quebec under year-old regulations

    Economic CTV News
    The majority of Quebecers who list their properties on Airbnb and other home rental websites are not registering with the province, just over a year since it implemented a law regulating them, new data suggests. Source
  • Advocate calls for chicken irradiation in Canada

    Economic CTV News
    A consumer advocate is pushing Ottawa to promote the irradiation of chicken to kill illness-causing bugs and to do a better job of getting buyers on board. Bruce Cran of the Consumers Association of Canada said the federal government has done "an incompetent job" informing Canadians that irradiation is safe and he worries that a lack of action could lead to a deadly outbreak. Source
  • British Airways aims to recover from IT failure

    Economic CTV News
    LONDON -- British Airways said Sunday it was still working to restore its computer systems but hoped to resume flights from London airports, a day after a global IT failure crippled its services. The airline said that it hopes to operate a "near normal schedule" at Gatwick and the "majority of services" from Heathrow on Sunday. Source
  • British Airways says most flights running; angry passengers face delays

    Economic CTV News
    LONDON -- British Airways said many of its IT systems were back up and running Sunday, but some travellers will likely face cancellations and delays for a third straight day after a global computer failure grounded hundreds of flights. Source
  • Canadian teenagers smarter than most about money, OECD finds

    Economic CBC News
    Canadian teenagers are more financially literate than most people their age in other rich countries, but more than one out of eight still fails to meet what the OECD considers a baseline level of proficiency in the topic. Source
  • People with serious food allergies want impostors to stop faking it in restaurants

    Economic CBC News
    Sarah Elliott has had it with people faking food allergies in restaurants. She has life-threatening allergies to eggs, dairy and nuts and fears the impostors are hurting her chances of safely dining out. Source
  • GM's emissions scandal and dangerous avocados: CBC's Marketplace consumer cheat sheet

    Economic CBC News
    If you've been too busy to follow the consumer news this week, here's our cheat sheet. And you can get the Marketplace newsletter in your inbox every week. GM accused of emissions cheating A class-action suit in the U.S. Source
  • CN Rail employees issue strike notice

    Economic CTV News
    MONTREAL -- A union representing employees at CN Rail is threatening job action to back contract demands. The Teamsters union has given the company 72 hour strike notice and could legally walk off the job Tuesday morning. Source