B.C. business leaders send letter to all MPs demanding action to fix Canadian economy

Multiple business groups in Western Canada have penned an open letter directed at every federal MP, including the prime minister.

It’s signed by the BC Business Council and its counterparts in Alberta, Saskatchewan, and Manitoba, 1130 NewsRadio can reveal in this follow-up to a story we brought you exclusively less than two weeks ago.

The groups have outlined a list of demands as they voice frustration with the federal government to fix the national economy sooner rather than later.

“Over the last decade, we’ve barely grown, adjusted for population, in terms of economic growth. We’re projected to have the weakest economic performance amongst the advanced economies over the next decade,” said Jairo Yunis, director of policy at the council.

“We are urging all MPs to apply one key test to every single policy decision, every single vote they cast, and it’s this question: ‘Is this policy going to make Canada a more attractive place for private sector investment?’ And if the answer is no, then that’s the wrong policy.”

The demands include a removal of emissions caps on proposed oil and gas projects, improving tax competitiveness, and improving the country’s regulatory system.

Yunis warns that if things don’t improve soon, it will open the door for Canadians to leave.

“We are already seeing the warning signs, the hollowing out of the private sector, weak productivity, and growing fiscal strain. We have deficits in most, if not all the provinces, so if we keep doing what we’re doing, we’re locking in lower living standards for the next generation and people can feel it when they go to the grocery store, when they fill up their tank at the gas station, when they pay their mortgage or rent,” Yunis explained.

The letter to cross-country MPs states, “Employment data confirm the same pattern. Public sector employment has grown by 23 per cent since January 2019 compared to growth of only 10 per cent in private sector jobs, while self-employment has shrunk by 1 per cent.”

Yunis explains that if Canada is not a desirable place to do business, in addition to people, big projects and companies will also go elsewhere.

“Weak economic growth means fewer opportunities, fewer jobs, lower wages, and less money available for public healthcare, education, and infrastructure. We have to do a better job at making sure Canada is more attractive to stay here, to build your life here, and as a business to build and base your operations.”

He says the CEOs of all the councils that signed the letter will be in Ottawa next week to make their case with in-person meetings.

Yunis says if something doesn’t improve, the future looks grim.

“Hopefully, there’s a deal being made by the prime minister and President Donald Trump soon and we can get those tariffs off the table, but what we can do right now is making sure that all the policies that we put forward are conducive to growth, are conducive to making sure that investors see Canada as an attractive place to invest and if we do that, then things might get better and things will get better,” Yunis said.

“We’ve been through external shocks before, it’s just a matter of will, and it’s just a matter of getting all hands on deck with a single laser focus on prioritizing the economy.”

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