This statement is attributable to Deborah Yedlin, President & CEO at the Calgary Chamber of Commerce
“With the mid-cycle budget adjustments approved, the Calgary Chamber of Commerce commends City Council for its commitment to fiscal prudence, identifying savings to reduce tax increases while continuing to invest in key areas such as safety, transit and critical services. However, we are concerned about Council’s decision to reverse the proposed one per cent tax shift, increasing the share of the burden placed on businesses. While we recognize Council lowered the original tax increase for all property owners and supported a plan to very slightly shift the tax share over the next eight years, this approach will neither meet the timeline or magnitude of the shift required to make Calgary competitive. Although the overall tax decrease helps mitigate the immediate impact of cancelling the shift, relying on ad hoc reductions is not a sustainable long-term strategy.
“Cost pressures remain the top concern for 66 per cent of Calgary businesses, many of which are already paying 4.6 times more in property taxes than residential property owners – approaching the 5:1 ratio set by the province. Additionally, increases to transit fares further compound affordability challenges for both businesses and residents, particularly given Calgary now has the highest cost single fares in the country.
“At the same time, we are encouraged that Council has maintained funding for the Community Court Program and the City’s Housing Strategy, along with additional safety investments. We remain committed to working with Council to ensure a strong, competitive environment that supports prosperity for businesses and all Calgarians.”
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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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