Alberta must do more to raise efficiency, cut costs: Chamber of commerce head

Alberta is still feeling EDMONTON the impact of the recent recession and the province should do more to get its finances in order, the president of the Edmonton Chamber of Commerce says.

“We believe the government should base its long-term budgeting on the factors it can control, like eliminating waste and finding efficiencies,” Janet Riopel told a chamber luncheon on Thursday, calling for less red tape and costcutting to boost the economy.

“By 2023, Alberta will face a staggering $96 billion in debt … We have a growing competitiveness gap in this country and this province with the actions the U.S. has taken to cut corporate taxes and increase tariffs.”

Economic Development Minister Deron Bilous admitted the recent reductions in American corporate tax rates affect Canada, but said Alberta can still compete economically.

For example, a second $500 million has been announced for a program to attract petrochemical development after the initial round encouraged construction of a $3.5-billion Strathcona County plant to turn propane into polypropylene, he said.

Bilous said he’s constantly looking for ways to reduce regulation and do work more efficiently.

“I’m confident that when we look at the fact that Alberta has the lowest tax rate in the country, we reduced the small business tax one percentage point last year … and a number of other initiatives to support business, that Alberta remains extremely competitive.”

Bilous told the chamber he’s providing the Edmonton Global regional economic development organization with $2 million over two years to help it attract investment to the area.

He gave an initial $500,000 last year to the group.

The group will take over much of the Edmonton Economic Development Corp.’s economic development work and was incorporated in June by 15 local municipalities.

“This support is something that fits very much with our vision for the province, which is collaborating in order to compete.”

Edmonton Global’s first major event will be participating in a trade mission to California on the inaugural flight May 1 of the direct daily Air Canada service between San Francisco and Edmonton, Bilous said.