Calgary Chamber delivers election platform, sets stage for growth

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With a provincial election due within the spring, the Calgary Chamber of Commerce dropped the rig with a platform outlining the enterprise neighborhood’s priorities for the subsequent authorities.

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On the coronary heart of the 48-page doc, referred to as Speed up, is maximizing the excess of not solely this monetary 12 months, but additionally the subsequent two. The report argues that is made extra vital due to the profit this black ink ought to give Alberta throughout a interval of financial uncertainty going through the remainder of the nation and far of the world. It has additionally been argued that this may very well be the final huge growth for the oil and gasoline sector with a transition to renewable vitality gaining extra momentum.

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“We have to set the stage for future development and prosperity, and that is one thing we have struggled with previously,” Deborah Yedlin, president and CEO of the chamber, stated Tuesday morning on the chamber’s headquarters. “We’re poised to actually make a distinction relating to discovering the roots of decarbonization, and that is going to present us a generational alternative from an financial standpoint… It is not simply in regards to the barrels in Alberta. It is also about degassing our nationwide industrial complicated, as a result of what we’re doing right here could be utilized in so many different industries throughout the nation.”

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The chamber has already made its positions clear with each main events heading to the Might 29 election, saying each of them have been receptive to its views. To construct this platform, the chamber polled members and non-members.

The provincial authorities has forecast surpluses of $12.6 billion this 12 months, $5.6 billion subsequent 12 months and $5.3 billion in 2024-2025.

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Chamber members outlined 5 priorities for the 12 months forward with entry to expertise and labor taking first place, adopted by inflation, price of doing enterprise, capacity to safe funding and funding, and provide chain constraints.

The platform is its roadmap to handle these points via 5 pillars.

The significance of fiscal duty transferring ahead

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The primary pillar is fiscal duty. The chamber stated the surpluses needs to be allotted to 4 key areas with 30 per cent to debt reimbursement, 40 per cent to the Alberta Heritage Financial savings Belief Fund, 20 per cent to strategic one-time investments that generate financial returns and promote diversification, and 10 per cent to affordability measures that deal with the speedy affect of inflation alleviated.

The chamber expects the latter to be utterly phased out by the top of the 2023-24 monetary 12 months.

The second pillar is to handle affordability and rising prices. This may be carried out in a number of methods by decreasing company taxes to between six and eight p.c whereas decreasing the small enterprise tax to beneath two p.c.

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It additionally requires measures to take care of the affordability of utilities and different prices whereas persevering with to chop crimson tape.

The third pillar is to proceed to put money into financial diversification and competitiveness.

The report famous that 70 p.c of Alberta’s royalties come from bitumen, highlighting the necessity for different sources of income to be developed. It builds on main initiatives already in place to develop quite a lot of sectors, together with inexperienced vitality, expertise, agriculture, tourism, movie and tv and others. In lots of instances, the present oil and gasoline infrastructure performs a key position in that diversification.

The chamber requires extra de-risking of investments in vitality and significant mineral initiatives, in addition to the expertise sector.

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Fill vacancies

The fourth pillar, expertise and labor, is the highest precedence of companies. It is not remoted to an Alberta or Calgary problem — however due to the financial exercise of the province, it is most likely extra acute right here.

Calgary hit a report excessive of 103,000 vacancies on the finish of the third quarter in 2022, a complete that grew by 15,000 because the begin of the primary quarter. This occurred as Calgary skilled report inhabitants development in 2022.

The vacancies are in all sectors from vitality, to expertise, truck drivers, building, hospitality and every little thing in between. With a lot of open jobs, the financial system will battle to operate at its optimum stage and get well slowly. The chamber is looking for motion to streamline the immigration course of to certify certified expert expertise. It additionally requires extra funding in post-secondary help and programming to higher develop expert labor right here, in addition to to create extra childcare areas.

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The final pillar is for strategic infrastructure investments. This consists of funding within the arts and leisure and public security, but additionally vital in downtown neighborhood improvement and re-gentrification.

The chamber is in search of about $348 million in investments to handle these points.

Former premier Jason Kenney put aside simply $5 million in whole for downtown Calgary redevelopment, an quantity Yedlin dismisses as insulting.

“We are the financial driver, that is the place all the choices for financial funding occur,” Yedlin stated. “If we are able to proceed to be a metropolis that could be a magnet for expertise and alternative, then we are able to additionally enhance our funding, which is sweet for the tax base. It’s good for employment. That is good for financial diversification. So most of the selections right here resonate all through and have an effect all through the province.”

jaldrich@postmedia.com

Twitter: @JoshAldrich03