Calgary Chamber advocates for fiscal prudence, tech adoption & decarbonization in Federal Budget

Calgary, Alberta, April 12, 2024 – As the federal government prepares to release Budget 2024, the Calgary Chamber of Commerce reiterates our call for a renewed focus on Canadian businesses. As optimism trends upward for businesses across the country, we recommend the federal government capitalize on this momentum to advance initiatives that support business growth and mitigate headwinds, including additional supports for risings costs, housing affordability and strategic investments for emerging sectors, to create a productive and resilient economy for all Canadians and Canadian businesses.

"Budgets serve as a critical platform for the government to highlight its key priorities and launch strategic initiatives. As the drivers of our economy, the needs of business should be central to government budgets," says Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce. "Canada is at the cusp of a significant opportunity to strengthen and diversify its economy, while capitalizing on its traditional sectors. The federal government has an opportunity to signal to investors and the business community that we are the best place to do business.”

The Calgary Chamber calls upon the federal government to implement forward-thinking strategies that drive strategic investments in Budget 2024. With a focus on fiscal prudence, we encourage supports that address persistent labour challenges, foster technology adoption and digital growth across sectors and create resilient supply chains through strategic infrastructure investments.

Recommendations

• Introduce measures that encourage fiscal prudence, address rising costs and reduce red tape. Lowering Canada’s debt-to-GDP ratio, as well as initiatives that reduce burdensome government processes and support businesses in addressing rising costs are crucial to sustained economic growth.
• Address Canada’s ongoing labour shortages, recognizing the importance of immigration as a long-term solution to persistent talent gaps.
• Establish policies that support technology adoption and digital growth across sectors. This includes a commitment to working with Canada’s early-stage companies to ensure they have the support required to grow and succeed and providing businesses with incentives to adopt new technologies to boost productivity.
• Implement Carbon Contracts for Difference (CCfD), providing clarity on proposed investment tax credits and collaborating with other orders of government to establish a national GHG-offset market.
• Advance the National Supply Chain strategy to guide strategic infrastructure investments needed to support supply chain resilience. This will also require the development of an integrated National Industrial Strategy to further reduce internal trade barriers and enhance access to foreign markets.

The Chamber encourages the federal government to continuing working with Calgary’s business community to address these pressing issues and develop proactive solutions. We urge the government to take immediate action in establishing the necessary conditions for all businesses to thrive.

View our federal pre-budget submission: Calgary Chamber 2024 Budget Submission to Department of Finance Canada.

About the Calgary Chamber of Commerce

The Calgary Chamber of Commerce 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 us at media@calgarychamber.com.