N.B. Business Associations Want Parties To Focus on Growth This Election
MONCTON – Six private-sector associations representing more than 4,000 businesses in New Brunswick launched a platform focusing on growth that they want all parties to adopt in the provincial election this fall.
The New Brunswick Business Council (NBBC), Conseil économique du Nouveau-Brunswick (CENB), the Atlantic Chamber of Commerce, and the chambers of commerce of Greater Moncton, Saint John and Fredericton are asking provincial parties to commit to five key pillars for growth in their election platforms.
“In our work over the past couple of months, we examined the current situation; what success would look like in each of these [five] areas. We also looked at specific recommendations in each area and what’s at stake if we choose not to act,” said Adrienne O’Pray, the CEO of the NBBC. “These are priorities that we’re all aware of. We really want now to work on the solutions.”
The alliance said all parties must address the following pillars in order to keep New Brunswick competitive globally and to stave off challenges at home:
- A private-sector-driven economy
- Responsible resource development
- Improved export performance
- Labour force development
- Responsible financial management
Krista Ross, the CEO of the Fredericton Chamber of Commerce, said New Brunswick’s slow growth had continued “along with unsustainable government spending” since the 2008 recession. Representing the alliance, she called for the provincial budget to be balanced in the next fiscal year.
“I think we need to be ambitious in this province if we want to have growth, and we do choose growth. The path to growth is to start chipping away at our debt and balancing our budget,” she said. “If we are doing all those things [in the platform], the growth will come and that will help us to have the tax dollars to begin to balance our budget.”
During her presentation, Ross said a review of the tax system is needed to better reflect today’s realities.
“Our collective efforts to stimulate growth won’t matter if we keep downloading our spending to future generations,” she said. “A credible solution to the problem is the minimum requirement for New Brunswick’s next government.”
Thomas Raffy, the CEO of the CENB, said this is a proactive move on the side of the private sector from across the province. The alliance calls for less red tape and a lower taxation for businesses, especially small- and medium-sized enterprises.
The economy should be based on the private sector, that’s what we’re saying and that’s what we’re asking,” he said. “But when you talk about taxation and regulation and cost of doing business that is rising, that’s hindering their efforts, that’s not even motivating people who want to start a business.”
“This is a dialogue, this is not a one-way conversation. So in this effort, we’re inviting the private sector to be aware of this and to bring it up in their conversations with candidates.”
The platform also calls for the development and diversification of New Brunswick’s export industry. It suggests expanding efforts to help companies become export ready and reach markets other than the U.S., such as Asia and Europe, by taking advantage of trade deals signed with those regions.
The alliance wants the value of goods and services exported from New Brunswick to double by 2030 and for industries like fintech, professional services and ICT to export their products.
Moreover, the associations call for a streamlining of approval processes for large investments.
“We feel the province is losing opportunities to attract investment and jobs, as there’s no certainty or predictability in regulatory review processes,” said Dylan Folkins, marketing officer at the Saint John Chamber of Commerce.
To deal with challenges related to the aging demographic, Greater Moncton Chamber of Commerce CEO John Wishart said the government needs to develop strategies to grow the population by 0.5 per cent a year.
This includes repatriating New Brunswickers, keeping international students, retaining youth, and attracting and retaining immigrants. He suggested retooling the education system to better match skills to job opportunities that exist or will exist in the future, and promoting programs related to the environment, arts, culture and social enterprises.
To retain international students and immigrants, he suggested providing language training and ensuring a smooth path to working and living in New Brunswick. He also suggested making recognition of foreign credentials easier.
“Let’s not put any hurdles in their way. Let’s make it so that it’s seamless. Because I think a lot of international students do want to stay,” he said.
“If you’re a nurse or an engineer, don’t make it difficult to recognize those qualifications just because the [training and experience were acquired] in a different country. There’s all kinds of engineers walking around, we need those skills. I think there’s a lot in the bureaucratic red tape area that needs to be fixed.”