Alberta is set to host a national summit aimed at addressing Canada’s productivity challenges, bringing together experts and leaders from various sectors to propose solutions for enhancing the country’s economic performance.
The government of Alberta is partnering with the University of Calgary’s School of Public Policy to present Canada’s Productivity Summit on October 16 and 17 at the BMO Centre in Calgary. The event will gather academia, business leaders, policymakers, and commentators to discuss the nation’s productivity issues and develop strategies for improvement.
“Collaborating on the challenges our economy faces is crucial. Higher productivity means better jobs, bigger paycheques, more opportunities, and increased affordability. But, Canada’s productivity growth has lagged our closest competitors. This summit will gather some of the best minds out there to better define this problem and propose solutions,” said Nate Horner, President of Treasury Board and Finance.
Despite Alberta boasting the highest productivity levels in the country, the province acknowledges the need for continuous improvement to maintain this status. Nationally, Canada’s productivity has been declining compared to similar nations, impacting investment, wages, and affordability.
Martha Hall Findlay, director of the School of Public Policy, emphasized the importance of addressing this issue. “How to improve Canadian productivity has been a challenge for decades, but we are clearly falling even further behind. This is a critical issue for our country, and our economic and social prosperity. Action is needed. The School of Public Policy is taking the lead in hosting this summit, with the Government of Alberta, to develop and encourage plans for action for improvement in the whole country.”
The summit aims to generate real, practical options for decision-makers in government and business, with a focus on fostering collaboration across different sectors and regions.
Dr. Sandra Davidson, provost of the University of Calgary, highlighted the role of innovation and talent in driving productivity. “As Canada’s entrepreneurial university, we understand that skilled talent and innovative research are critical drivers of strong productivity and economic growth. We are excited to host and contribute to dialogue among practitioners, researchers, and policymakers that advances solutions to Canada’s productivity challenges.”
The event will be accessible to all Canadians, with livestream options available for those unable to attend in person.
Quick facts:
- Productivity measures how efficiently a country’s economy produces goods and services with available resources.
- Higher productivity can lead to higher wages, better employment opportunities, and improved living standards.
- Canada’s productivity has been declining relative to peer jurisdictions since the 1970s.
- While Alberta is productive in most sectors compared to the rest of Canada, its productivity growth between 2000 and 2021 has lagged behind the national average.