The Government of Alberta announced in a joint press conference with the University of Calgary that it will sponsor a summit in Calgary this fall.
Being put on in coordination with the university's School of Public Policy, the summit will focus on productivity in Canada.
"The two-day summit will bring together academia, business leaders, policymakers, leading commentators and influential voices with a range of insights and viewpoints to shine a light on Canada’s productivity challenge and shape solutions," notes a release on the summit.
During his turn at the podium, Drumheller–Stettler MLA and Finance Minister Nate Horner said that Alberta has the highest level of productivity in Canada, but "wages need to meet the cost" of living which has been rising in recent months.
"In many ways, we are leading the way," said Horner. "But we can't do this alone."
As part of the summit, in addition to the subject-matter experts who will be in attendance, Horner has also invited finance ministers from across Canada, including Federal Finance Minister Chrystia Freeland.
"It's an important first step in addressing this challenge," said Horner.
Dr Trevor Tombe, the director of the university's fiscal and economic program at the School of Public Policy noted that productivity in Canada has always lagged behind other modern nations. Still, in the past decades, the gap has been widening.
According to Tombe, productivity in Canada always hovered around 10 per cent behind the United States, but it now currently sits at around 30 per cent behind.
Over the last eight years, Canada's productivity has actually seen negative growth some years, and when averaged out has only increased by about 0.2 per cent per year.
"We have the lowest average growth rate since records began," said Tombe.
"The numbers speak for themselves."
According to Horner, boosting productivity is one way that the province can help fend off the current cost-of-living crisis.
"People tell me they are concerned about their ability to provide for their families," said Horner.
"Forty-one per cent say it's difficult to feed their household today."
Horner notes that it's not about getting workers to work longer and harder, but about making things more efficient and "maximizing the potential and standard of living for all Canadians."
The summit will take place Oct. 16 and 17 at the BMO Centre in Calgary and interested individuals from around Canada will be able to view it online.
