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ACC media release: July 22, 2024

For immediate release

ALBERTA BUSINESS COMMUNITY AND PUBLIC LARGELY POSITIVE ABOUT THE STATE OF THE ECONOMY AND PROVINCIAL FINANCES

Edmonton, AB — Recent research conducted by the Alberta Chambers of Commerce (ACC) network indicates the Alberta business community and the public appear to be largely positive about a number of aspects of the future, while holding differing views on a variety of fronts.

Conducted through the Alberta Perspectives program, insights were collected from 513 self-identified members of the business community throughout Alberta between May 22nd and June 18th, 2024, and 800 members of the public between June 13th – 20th, 2024.

Only have a minute? Provincial Priorities Key Points HERE.

Access to the full report below.

When the Provincial Priorities annual research first explored the priorities of Alberta businesses and the public, their views were closely aligned. Over the years, some of those priorities have shifted.

Long-Term Future – In 2019, there was only a 5% gap between the two groups in being positive about the long-term future of the province. Over time, the gap has steadily increased, and in 2024 businesses are 15% more positive than the public.

Most Important Issue Facing the Province – While health care is cited most frequently by both groups, inflation continues to be a major public concern. The percentage of business citing it as the most important issue has declined significantly, with a 16% drop over two years.

Inflation – Among the public, those who say inflation is greatly impacting them is up 9% over 2023, with the cost of living as the most impacted. Unlike businesses, the public have fewer ways to manage inflation which is why it likely remains a top issue for them.

Provincial Finances – Opinion about the state of Alberta’s finances has reversed over the last five years. Prior to 2022, it was the public who were more positive and less concerned than business about the state of Alberta’s finances and now business is more positive and less concerned than the public.

Priorities – This year, reducing taxes has emerged as the most important priority for the pubic, increasing by 17% over the last five years. By contrast, reducing taxes is only one of a number of important priorities for business, although the proportion of respondents saying it is a very important priority has increased by 8% over the last five years.