Province continues to push economy forward to recovery in throne speech – Calgary Herald

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Tuesday’s throne speech pledged continued action from the UCP government to help businesses and the economy bounce back from two years of pandemic through legislation and the existing Alberta Recovery Plan.

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The speech, read by Lt.-Gov. Salma Lakhani, said Alberta’s low taxes and high quality of life are pushing the province to the front of the line for economic growth in Canada, which has led to major investments by companies such as Amazon.

“We see this economy firing on all cylinders, it’s obviously benefiting from strong oil and gas prices, but we are seeing dynamic growth in virtually every Alberta industry and diversification happening like never before,” said Premier Jason Kenney.

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Alberta’s Recovery Plan was announced in 2020.

There was, however, no mention of new sector-specific supports or other sources of funding as businesses continue to dig themselves out from pandemic-induced debt that for some, particularly in the hospitality industry, has reached the millions of dollars.

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Annie Dormuth, a provincial affairs director for the Canadian Federation of Independent Business, was encouraged by some of the announcements in the speech, but was holding off on major pronouncements until she had a chance to look at the budget when it is released on Thursday.

Deborah Yedlin, president and CEO of the Calgary Chamber of Commerce, called the speech a “good first step” but also wants to see details of the budget.

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“I think we were all hoping for something a little more specific because we’re still emerging from a very challenging time in Alberta’s history, and to see a bit more detail in terms of where the province wants to focus its attention and its funding would be helpful,” she said.

Many industries are struggling to fill skilled and unskilled jobs to recover to pre-pandemic levels. The speech makes no mention of efforts to address these challenges.

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Dormuth said staffing issues affect 46 per cent of their membership in Alberta.

“Any type of investment, working at the labour shortage . . . and getting the right skills and training would be helpful.”

She called for tax credits for small businesses and work-integrated learning programs.

Opposition NDP Leader Rachel Notley said there needed to be a more specific commitment to job creation beyond vague promises and the continuation of old programs.

“There’s nothing specific about revitalizing Calgary’s struggling downtown. In fact, the only mention of Calgary in the speech is on the Calgary Cancer Centre, a project our NDP government approved after over a decade of Conservative dithering,” Notley said in a news release.

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There was also no mention of the agricultural industry and supports or insurance reform to help producers deal with one of the worst growing years in generations in 2021. A lack of accumulated moisture over the mild winter is already causing concerns of another difficult year ahead for southern Alberta farmers.

The speech did say the government would continue to push economic diversification and continued support of green initiatives, such as the Oil Sands Pathways to Net Zero Alliance, while pushing the federal government for incentives for investment in carbon capture utilization and storage technology. Kenney also doubled down on a November promise to push ahead with the Clean Hydrogen Centre of Excellence.

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Scott Crockatt, vice-president of the Business Council of Alberta, said the direction is critical to selling the rest of Canada and the world on Alberta. He supported telling the story of the work Alberta has done to be at the forefront of clean energy and to be a more welcoming and inclusive province.

“Frankly, that’s essential to attracting people and capital here,” he said. “It’s poorly understood elsewhere in the country how much Alberta companies are already doing to decarbonize and to address climate change. Many people’s perceptions are still 10 and even 20 years old about the activity of what’s actually happening in Alberta.”

Albertans can also expect legislation this spring aimed at further cutting red tape, something Dormuth welcomed, noting it affects all sectors of the economy.

“Alberta’s government was elected on a commitment to reduce by one-third the number of job-killing government rules imposed on our economy,” said Kenney, adding they had already achieved a 22 per cent reduction.

There will also be a bill tabled to promote innovation in the financial services sector by allowing companies to test new products and services. The bill will also make it easier to establish a reinsurer in Alberta, helping to reduce costs and spur growth in the financial services sector.

jaldrich@postmedia.com

Twitter: @JoshAldrich03