November 4, 2025, Ottawa, ON – The Calgary Chamber of Commerce is pleased to see Budget 2025 reflect a focus on key economic priorities, including reducing the marginal effective tax rate to stimulate private sector investment, a commitment to bolstering trade-enabling and community infrastructure and investment in key sectors – all with the goal of enhancing Canada’s economic competitiveness. Today marks a critical step forward with several key initiatives that address the priorities of small and large businesses alike. It also tables key regulatory reforms including halting the emissions cap and removing the greenwashing provisions, which will support greater investment certainty – and therefore economic growth – in Canada.
“Today’s budget tables several initiatives that match the severity of Canada’s economic challenges – and recognize the depth of our country’s strengths,” says Deborah Yedlin, President & CEO at the Calgary Chamber of Commerce. “We’re pleased to see a focus on several economic priorities including making Canada more tax competitive, increasing trade diversification and export capacity, focusing on labour and talent and eliminating regulations that have been impeding investment in the natural resource sector.”
While Budget 2025 tables several critical initiatives, and we note the government’s commitment to decrease operational spending, the investments committed to come at a high price, with the budget deficit more than doubling – and not forecasted to return to 2024 levels at any point on the horizon.
“The investments tabled today come at a significant cost, with a deficit that far surpasses fiscal restraint and without a clear path to restoring fiscal responsibility,” adds Yedlin. “We look forward to working closely with government to address the many remaining regulatory burdens facing Canada’s industries to ensure the government’s goal to unlock $1 trillion in private sector investment can be realized – and can result in tax revenue that offsets the increased deficit.”
Despite the price tag on these initiatives, the Calgary Chamber is pleased to see the following tabled in Budget 2025:
- Removing regulatory challenges by halting the emissions cap, removing greenwashing provisions through legislative amendments, and greater policy durability on various equivalency agreements.
- Creating the Productivity Super-Deduction to reduce Canada’s marginal effective tax rate (METR) by more than two per cent, securing Canada’s advantage as the lowest rate in the G7.
- Launching the Trade Diversification Strategy and Trade Diversification Corridors Fund to double non-US exports from $296B to $600B in the next decade, funding ports, railways and ports of entry to reduce bottlenecks and open faster routes to global markets.
- Investing $115.2B over five years in the Build Communities Strong Fund, ensuring public and community infrastructure in cities keeps pace with population growth.
- Launching a Buy Canadian Policy that shifts from ‘best efforts’ to a clear obligation to Buy Canadian – as well as a Small and Medium Business Procurement Program to help Canadian small-and medium-sized enterprises access federal procurement opportunities.
- Supporting small businesses in diversifying their markets through the SME Export Readiness Initiative as well as through increased funding to CanExport.
- Implementing strategies, like Foreign Credential Recognition Action Fund and the International Talent Attraction Strategy and Action Plan, to ensure Canada has the talent we need – while stabilizing immigration levels to facilitate newcomer success and ensure population growth fits within the means of our current infrastructure.
- Investing in key sectors including through the Critical Minerals Sovereign Fund, accelerated capital cost allowances for LNG, artificial intelligence and an investment of $1.3B in quantum. We are also encouraged by the expanded mandate of Canada Infrastructure Bank to support National Interest Projects across all sectors and asset classes.
- Supporting sectors and their workers impacted by tariffs, including agriculture, canola, steel, aluminum and others.
- Modernizing government, including through greater use of technology, to ensure our regulatory system can keep pace with our rapidly changing innovations and global context.
The Calgary Chamber and our members welcome a renewed focus on the economy and look forward to working closely with the Government of Canada on the initiatives tabled today. The challenges that face Canada present a transformative opportunity for our country and will require close collaboration and partnership between private and public sectors, as well as civil society organizations, Indigenous communities and Canadians broadly to ensure a prosperous and resilient Canada.
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. 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.
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