Business leaders in Alberta are expressing relief following a resounding vote in favor of the province remaining part of Canada. According to Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce, the referendum result provides much-needed certainty for investors, benefiting not only Alberta’s economy but the entire country. The vote, which included 10 questions, with one specifically addressing Alberta’s status within Canada, saw a substantial majority supporting continued unity with Canada.
Despite ongoing economic challenges, including the impact of the 2014 oil price crash, which prompted some to advocate for separation, the majority of business leaders voiced support for remaining part of Canada. Concerns were raised by organizations such as the Canadian Chamber of Commerce and Alberta Chamber of Commerce about the potential for prolonged uncertainty if a binding referendum on separation were to proceed.
A poll conducted by the Calgary Chamber of Commerce revealed that nearly half of members were willing to relocate their businesses if Alberta pursued the separation process, with 60% expressing that separatism was negatively affecting their businesses. The referendum, set against a backdrop of global uncertainty and strained trade relations, added further complexity for business leaders.
While the immediate uncertainty has been alleviated by the referendum outcome, there remains a segment of the population advocating for an independent Alberta. Charles St-Arnaud, Chief Economist at Servus Credit Union, highlighted the possibility of lingering separatist sentiment impacting business activities in the future. He drew parallels to Quebec’s experience post-referendum, emphasizing the importance of how the separatist conversation is handled in mainstream politics.
Looking ahead, Canadian Chamber of Commerce President and CEO Candace Laing emphasized the need to address separatist concerns to foster a strong and united Canadian economy. With the majority of Albertans choosing to remain part of Canada, Laing expressed optimism that the result would instill confidence among businesses, workers, and communities, urging unity and progress moving forward.