Calgary, October 30, 2023 – As the provincial legislature resumes sitting, the Calgary Chamber of Commerce encourages the government to focus on addressing the most pressing economic challenges including alleviating business pressures such as rising costs, attracting labour, capital and investment, and providing investor certainty.
“This is a pivotal time for businesses,” says Deborah Yedlin, President and CEO at the Calgary Chamber of Commerce. “Persistent cost challenges remain a top concern for businesses, limiting their growth and success. Government must act to address rising costs in the upcoming session to ensure a successful economic outlook.”
Third-quarter data from the Canadian Survey on Business Conditions found 58 per cent of Calgary-based businesses are challenged by rising inflation, with an additional 39 per cent of businesses concerned about rising input costs and 36 per cent concerned about higher interest rates and debt costs. As the provincial government resumes sitting, we call on elected officials to:
- Maintain fiscal prudence, address rising costs and reduce red tape. We must ensure long-term financial stability for businesses and uphold Alberta’s reputation as a reliable and stable jurisdiction for businesses and investors.
- Position Alberta as a magnet for talent and investment. We must accelerate the ability for newcomers to enter Alberta’s labour force and continue to prioritize an equal-opportunity labour market and affordable living. With more than 184,000 people migrating to Alberta in the last year, additional pressures have been put on our housing, health care and educational institutions. These need to be addressed in order to maintain our competitive advantage as a jurisdiction for capital, talent and new opportunities.
- Reinforce Alberta’s economic strengths while continuing to invest in economic diversification and future competitiveness. This requires the province to continue supporting our traditional industries while also bolstering investments and providing regulatory certainty to support the advancement and competitiveness of new and emerging economic sectors, including film and television, clean energy and technology, petrochemicals, tourism and the arts.
- Invest in infrastructure that supports civic vibrancy, resilient supply chains, and enhances market access, recognizing these investments are crucial to talent attraction and retention, while also reducing costs for businesses and increasing economic productivity.
As the fall session resumes, we welcome the provincial government’s ongoing work to create short and long-term economic growth. We encourage the government to continue to collaborate with the business community, ensuring Alberta remains the jurisdiction of choice for business and investment.
ABOUT THE CALGARY CHAMBER OF COMMERCE
The Calgary Chamber exists to help businesses reach their potential. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
Media opportunities
For media inquiries, please contact Ruhee Ismail-Teja, Director of Policy and Communications, at media@calgarychamber.com.
