Voice of Business August 31, 2022

Alberta to use $13.2 billion surplus to pay down debts

via LethbridgeNewsNow

The Government of Alberta is reporting strong economic gains and a budget surplus in its latest fiscal update.

In the 2022-23 First Quarter Fiscal Update and Economic Statement, the provincial government is running a budget surplus of $13.2 billion. That is $12.6 billion higher than what had been previously forecast.

In a video posted to social media on Tuesday, August 30, 2022, Premier Jason Kenney said the budgetary recovery was largely due to soaring commodity prices and royalty revenues, but also fiscal restraint and broader economic growth.

A media release from the province highlights several other positive economic indicators such as the addition of 68,200 jobs since the beginning of 2022, the unemployment rate falling to its lowest level since 2015 at 4.8%, and expected real GDP growth of 4.9% in 2022.

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Canadian Survey on Business Conditions Q3 Results

According to the latest Canadian Survey on Business Conditions, Canadian businesses continue to see inflation as their biggest near-term obstacle.

A whopping 60% of firms expect inflation to be a challenge, the highest response rate in the history of the survey.

Read more key takeaways from the Canadian Chamber of Commerce Business Data Lab and stay tuned for a deeper dive in the coming weeks. 

More information

Make your nominations for the 2022 Lethbridge Business Awards

Do you know an outstanding business in Lethbridge? Nominate them for the 2022 Business of the Year Awards today!

Nominate online

The 2022 Business of the Year Awards will take place October 20 at the Coast Lethbridge Hotel & Conference Centre. Tickets will be available soon!

Committee Information & Recruitment 

Attend the Lethbridge Chamber of Commerce's Committee Information & Recruitment session on September 14th to learn about how you can become involved! 

The Lethbridge Chamber of Commerce relies heavily on volunteers to do the work to ensure the Voice of Business is heard. As we start the new Chamber season in September there are several opportunities for our members to get involved in advocacy work, member engagement and events. 

Morning Session

Noon Session

Afternoon Session

The Net-Zero Challenge to Recognize and Support Businesses Transitioning to Cleaner Operations

Businesses across Canada are developing cleaner ways of doing business not just to reduce harmful emissions, but also to be more resilient and competitive in the 21st century economy.

Last week the Honourable Steven Guilbeault, Minister of Environment and Climate Change, announced the launch of the Net-Zero Challenge, a new national voluntary initiative for businesses operating in Canada. Businesses that join the Challenge commit to developing and implementing credible and effective plans to transition their facilities and operations to net-zero emissions by 2050.

Learn more