Calgary, Alberta, January 30, 2022 – Inflation and affordability, investment attraction, and the labour shortage remain top concerns for Calgary businesses who continue to struggle with post-pandemic recovery. According to the Q4 Canadian Survey on Business Conditions, 58.8 per cent of Calgary businesses see rising inflation as an obstacle in the next three months while 44.1 percent are concerned with rising interest rates and debt costs. As the House of Commons resumes sitting, the Calgary Chamber of Commerce encourages the federal government to focus on key business priorities that help safeguard Canada’s economic prosperity, acknowledging a strong and inclusive business community means a higher quality of life for all Canadians.

"It’s critical – perhaps now more than ever – that the government focus on key strategic investments that will support the short and long-term growth of the Canadian economy," says Deborah Yedlin, President and CEO at the Calgary Chamber of Commerce. "Policy measures that attract new investment and talent, increase productivity and reduce the burden to businesses must be prioritized in order to weather an economic slowdown and set the stage for future growth."

Recommendations

Affordability for Canadian business

Inflation and rising costs have a direct impact on business success. The government must reign in spending, pay down debt and improve affordability for businesses by removing barriers to growth, such as addressing domestic manufacturing shortages. In addition, government should not introduce or increase any fees or taxes given the current inflationary environment.

Investment attraction

The federal government must invest in technology and innovation including rural broadband networks, energy security, emerging energy technology, critical minerals and agriculture to ensure Canada’s diverse economy is resilient and continues to drive employment. Investments in supply chain infrastructure are needed to drive Canada’s future. Given how much Canada relies on the seamless transport of goods, a particular focus on alleviating both internal and external trade barriers is critical.

Talent and labour

Businesses across Canada are threatened by a lack of available talent, skills gaps and competition for workers. To remain competitive, the federal government must implement measures to attract and retain talent, leveraging and expanding existing programs and immigration policies. We must also demonstrate leadership in inclusion, diversity, equity and accessibility within our workforce – from childcare to mental health.

Businesses require certainty and stability. This session, the Calgary Chamber urges the federal government to work collaboratively with the business community to address the most pressing issues. We also ask that government promote economic competitiveness and diversification across the country through investment attraction.

About the Calgary Chamber of Commerce

The Calgary Chamber exists to help businesses thrive. 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, we build on our 131-year history to serve and advocate for businesses of all sizes, in all sectors, and across the city.

Media opportunities

For media inquiries, please contact Shannon Hazlett, Senior Public Relations Advisor, at media@calgarychamber.com.