CALGARY – The head of the Calgary Chamber of Commerce has raised serious concerns regarding the economic repercussions of a potential referendum on Alberta's separation from Canada. Deborah Yedlin, president and CEO of the chamber, expressed that such a referendum could lead to severe economic damage, not only for Alberta but for Canada as a whole.
Yedlin highlighted that businesses thrive on stability and certainty, stating, "Businesses are not interested whatsoever in uncertainty." She emphasized that discussions around separation are already prompting companies to reconsider investment opportunities in Alberta, which could harm the province's economy significantly.
The Calgary Chamber of Commerce represents a significant number of corporations in Alberta, including some of Canada's largest oil and gas companies. Atco Ltd. CEO Nancy Southern noted that ongoing discussions about secession have already caused hesitance among Asian investors regarding a hydrogen project, insisting that the debate surrounding separation is "unhelpful and not constructive to Alberta."
Yedlin projected that as annual business meetings continue throughout the spring, more executives will likely feel compelled to voice their concerns about the implications of a potential referendum on the economy. She called for more leaders like Nancy Southern to publicly address this crucial issue.
Yedlin criticized the arguments made by separatist groups as fundamentally flawed. She drew parallels to Quebec's history, referring to the large exodus of businesses and residents during Quebec's 1980 referendum on separation, cautioning that Alberta should learn from this historical event. "When you have something like a referendum, Quebec is the poster child for what happened in Canada. We should not forget that lesson," she stated.
In light of these conversations, the Alberta government has proposed changes to make it easier to place constitutional referendum questions on ballots. The threshold for signatures required for organizers has been reduced from 600,000 to approximately 177,000, a move Premier Danielle Smith advocates as necessary to lower the prohibitive barrier for citizens seeking a referendum.
While Premier Smith has clarified that she does not endorse separation from Canada, she has urged that those who advocate for it should not be demonized, recognizing their frustrations with the federal government. Smith has also indicated that the absence of a platform for separatists to express their grievances could potentially result in the formation of a new political party.
However, the Premier has refrained from commenting on whether the referendum process could negatively impact the province's economy, stating she would reserve judgment until there is a specific question on the ballot.
Similar to Yedlin, big-city mayors in Alberta have voiced apprehensions about the economic consequences tied to a separation referendum. Edmonton Mayor Amarjeet Sohi recently revealed that local businesses have expressed fears about potential investment declines if such a referendum were to take place.
Furthermore, Federal Conservative Leader Pierre Poilievre, who is preparing to run in a byelection for the rural Alberta riding of Battle River-Crowfoot, shared his perspective, stating he does not support separatism but recognizes Alberta's ongoing frustrations with the federal government.
