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Province announces funding for more addiction treatment spaces – Calgary Herald

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A new provincial investment of nearly $13M aims to create 2,172 addiction treatment spaces over three years


Premier Jason Kenney, Centre, with L-R, Leslie Big Bull, executive director, Sunrise Healing Lodge, Devin Rued-Fraser, Training and Marketing Director Sunrise Healing Lodge, Teressa Krueckl, chief executive officer, Thorpe Recovery Centre, Jason Luan, Associate Minister of Mental Health and Addiction and Stacey Petersen, executive director, Fresh Start Recovery Centre as he announced details of new publicly funded treatment spaces in the province in Calgary on Saturday, February 1, 2020.


Darren Makowichuk / Postmedia

Robby Sidhu, who is almost three years into recovery from addiction, said it’s difficult to look at the names etched onto the back windows of the Fresh Start Recovery Centre that memorialize those who lost their lives to addiction.

Almost 30 names of men who died waiting for a treatment bed to open or who were alumni of the centre’s programs were visible as dozens packed the centre on Saturday to celebrate an investment in addiction treatment spaces by the province.

“We don’t need to keep adding names to that back wall if these programs are available,” said Sidhu, who completed a treatment program at Fresh Start almost three years ago and now heads their alumni program.

He said the Government of Alberta’s weekend announcement to create an additional 2,172 spaces for life-saving addiction treatment over the next three years is a significant and worthwhile investment to curb addictions-related deaths and prevent any more names from ending up on the back wall.

The provincial investment, totalling up to $4.3 million per year, will fund treatment spaces at Fresh Start Recovery Centre and Sunrise Healing Lodge in Calgary, and Thorpe Recovery Centre near Lloydminster.


Premier Jason Kenney greets residents and staff at the Fresh Start Recovery Centre as he announced details of new publicly funded treatment spaces in the province in Calgary on Saturday, February 1, 2020.

Darren Makowichuk /

Postmedia

Stacey Petersen, executive director of Fresh Start, said the investment is a “game-changer.”

“Over the course of my career in the addictions and recovery field spanning more than three decades, I have not witnessed this kind of government operational funding commitment. This kind of support for abstinence-based treatment and long-term recovery is unprecedented,” said Petersen.

Fresh Start will receive up to $1.56 million per year to fund 294 additional treatment spaces, Sunrise Healing Lodge will receive up to $518,300 per year to fund 156 additional treatment spaces, and Thorpe Recovery Centre will receive up to $2.21 million per year to fund 574 more treatment spaces.

Premier Jason Kenney called the drug crisis in Alberta a “social catastrophe” and said his government’s commitment to addictions and recovery services is reversing what he considers a poor decision by the former government to focus heavily on harm-reduction programs.

“We’ve always said that aspects of harm reduction do have a place within the continuum of care but we believe that in the past, the previous government, placed an almost single-minded focus on so-called harm reduction and they shifted resources away from recovery and treatment. We think that’s a dead end,” said Kenney.

“Facilitating addiction is not a way out of addiction.”

The provincial announcement comes in advance of the release of a provincial report reviewing supervised-consumption sites in Alberta. The report’s findings, which are likely to be announced in coming weeks, will highlight the negative social effects of supervised-consumption sites, including increased crime and property damage, according to Kenney.

He said previously the province might move or close existing sites, which could include the Sheldon M. Chumir Health Centre Safeworks site in Calgary.


The Safeworks injection site at the Sheldon M. Chumir Health Centre is shown on Friday, February 15, 2019.

Dean Pilling /

Postmedia

“At the end of the day you can’t get out of addiction while you’re still on drugs. The notion that compassion simply consists of giving somebody a needle to inject themselves with something that can kill them I think is misplaced,” said Kenney, before saying there is still a place for harm-reduction services.

The Sheldon Chumir site has had a 100 per cent success rate of reversing overdoses.

Sidhu, who struggled with alcohol, entered the Fresh Start program when he had hit “rock bottom.”

“I had broken my wrist, my pinky, my two front teeth from being out there. I lost a couple of my best friends to this disease and so, I was at a point where I knew I was going to be one of them,” said Sidhu. He said his name could just have easily ended up on the back wall.

Hanging from the rafters of the Fresh Start centre, and showing the alternative for people with addictions, are Calgary Flames jerseys with personalized names on the back and numbers five, 10 and 15.

“These are gentlemen who have made it five years, 10 years, 15 years in recovery,” Sidhu explained.

“I’d like to see my jersey up there in a couple of years.”

alsmith@postmedia.com

Twitter: @alanna_smithh

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S&P/TSX composite down more than 200 points, U.S. stock markets also fall

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TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.

The S&P/TSX composite index was down 239.24 points at 22,749.04.

In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.

The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.

The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.

The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.

This report by The Canadian Press was first published Sept. 6, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 150 points, U.S. stock markets also higher

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.

The S&P/TSX composite index was up 171.41 points at 23,298.39.

In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.

The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.

The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.

The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.

This report by The Canadian Press was first published Aug. 29, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Crypto Market Bloodbath Amid Broader Economic Concerns

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The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.

The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.

Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.

The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.

Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.

Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.

Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.

Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.

The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.

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