EDMONTON — Premier Danielle Smith moved to reassure Albertans this week after a government-commissioned report estimated the cost of leaving Canada at roughly $400 billion, clarifying that the figure represents an opportunity rather than what most economists, accountants, and people who have ever signed a lease would call a problem.

The report, prepared at public expense, examined the price tag of separation across pensions, debt, currency, and the small matter of building an entire country from scratch. Officials stressed that the $400-billion number was preliminary and could rise, fall, or be quietly relocated to an appendix nobody reads.

"This is precisely the kind of bold, forward-looking analysis Albertans deserve," said Smith, standing in front of a slide that contained the words 'SOVEREIGNTY' and 'SYNERGY' but no actual numbers. "We asked Albertans if they wanted sovereignty, and they said yes. We did not, at that time, mention the four hundred billion dollars."

Pressed on how the province would fund the transition, the Premier outlined a three-part plan consisting of optimism, a referendum, and the firm belief that Ottawa would ultimately agree to be reasonable about a divorce it did not ask for. She added that any shortfall could be addressed through "efficiencies," a word she repeated four times without elaboration.

Independent analysts noted that $400 billion is approximately the cost of several decades of the very public services the report does not explain how to replace. One economist, asked for comment, stared at the document for a long moment before quietly closing it and asking to be left alone.

Smith said the government would continue studying the question, and confirmed that the next report — examining whether the $400-billion report itself was worth commissioning — is already underway.