Latest news with #TrevorTombe
Yahoo
3 days ago
- Business
- Yahoo
Leading Experts Convene in Halifax for Economic Forum on Trade, Competition, and Growth
HALIFAX, NS, June 5, 2025 /CNW/ - Today, Halifax Partnership, the School of Public Policy at the University of Calgary, and the Public Policy Forum (PPF) co-hosted a dynamic economic forum, bringing together top policymakers, economists, and industry leaders from across the region to tackle one of Canada's most pressing economic challenges: unlocking growth by reducing internal trade and regulatory barriers. The event sparked lively discussions and fresh ideas on how greater interprovincial cooperation and smarter regulation can boost productivity and competition and fuel long-term prosperity across the country. Trevor Tombe, Director of Fiscal and Economic Policy with the School of Public Policy at the University of Calgary and a Fellow at PPF, delivered the keynote address, sharing findings from a new report, Unlocking Regional Growth: The Role of Internal Trade Costs in Atlantic Canada, released today by PPF. "The cost of doing business across provincial borders is quietly placing strain on our economy," said Tombe, whose research has shown that the Atlantic provinces are the most profoundly affected by internal trade barriers in Canada. "The Province of Nova Scotia, along with Ontario, Alberta, British Columbia, Manitoba and Prince Edward Island, is taking steps to improve trade and investment opportunities between provinces." According to his new research, the cost of moving goods between the Atlantic provinces is equivalent to a six per cent tariff, while the cost of trading services is nearly 39 per cent. "To put that in perspective," said Tombe, "the national averages are much lower—around 1.4 per cent for goods and 16.8 per cent for services. "Reducing internal trade barriers in Atlantic Canada is a low-cost, high-impact policy lever with the potential to significantly boost wages, productivity, and economic growth. This is not just good policy for Atlantic Canada, it benefits the entire country." The forum also featured insightful discussions with government and private sector leaders who shared real-world insights and perspectives on opportunities and challenges related to breaking down trade, competition, and regulatory barriers in Canada. Key public sector voices included Nova Scotia Finance Minister John Lohr, Halifax Mayor Andy Fillmore, Jeannine Ritchot, Assistant Deputy Minister, Multilateral Relations & Internal Trade, Intergovernmental Affairs, Government of Canada, and Angela Houston, Executive Director, Trade and Economic Policy, Nova Scotia Department of Intergovernmental Affairs. To find out how reducing trade barriers between provinces can drive economic growth across Canada find Trevor Tombe's full report here: Quotes "Nova Scotia is showing the country how to move forward in removing productivity barriers related to trade, regulation, and competition. Provincial trade agreements between Nova Scotia and a growing number of other provinces are leading the charge, making it easier for workers, businesses, and services to move freely across borders." - Ian Munro, Chief Economist at Halifax Partnership "Provinces hold the key to unlocking Canada's economic potential. By strengthening internal trade and labour mobility, we can reduce our reliance on volatile international markets and build greater resilience against external shocks like tariffs. It's time for provinces to step up and drive Canada's long-term prosperity."-Trevor Tombe, Professor, Department of Economics & Director of Fiscal and Economic Policy School of Public Policy, University of Calgary and Fellow, Public Policy Forum "PPF has had a long-standing interest in Atlantic Canada's economic prosperity, including the creation of our Atlantic Momentum index to track growth indicators over time. We look forward to documenting the positive impact of removing trade barriers, increasing productivity, and attracting investment throughout the region, as well as stories of change that will be a consequence of these actions."-Inez Jabalpurwala, President and CEO of the Public Policy Forum About the School of Public PolicyThe School of Public Policy at the University of Calgary is undertaking Canada's Productivity Initiative, a year-long national project that explores key drivers of Canada's lagging productivity and growth. The Halifax forum follows successful sessions in Calgary and Ottawa and will be followed by events in Vancouver, Montreal, Saskatoon, and Toronto, culminating in a comprehensive policy recommendations report to be released in late 2025. About Halifax PartnershipThe Halifax Partnership is Halifax's public-private economic development organization, dedicated to building an inclusive, thriving, and prosperous Halifax in collaboration with its Investors and partners. The Partnership is leading The Productivity Puzzle initiative, a series of events, discussions, and research designed to spark a broader conversation around Nova Scotia's critical productivity crisis and solutions that could improve economic growth, living standards, and future prosperity. Learn more at About Public Policy ForumThe Public Policy Forum (PPF) brings together leaders from across sectors to improve policy outcomes for Canadians. A non-partisan organization with a 30-year history, PPF fosters inclusive dialogue, delivers impactful research, and champions innovative approaches to policy development. SOURCE Halifax Partnership View original content:
Cision Canada
3 days ago
- Business
- Cision Canada
Leading Experts Convene in Halifax for Economic Forum on Trade, Competition, and Growth
HALIFAX, NS, June 5, 2025 /CNW/ - Today, Halifax Partnership, the School of Public Policy at the University of Calgary, and the Public Policy Forum (PPF) co-hosted a dynamic economic forum, bringing together top policymakers, economists, and industry leaders from across the region to tackle one of Canada's most pressing economic challenges: unlocking growth by reducing internal trade and regulatory barriers. The event sparked lively discussions and fresh ideas on how greater interprovincial cooperation and smarter regulation can boost productivity and competition and fuel long-term prosperity across the country. Trevor Tombe, Director of Fiscal and Economic Policy with the School of Public Policy at the University of Calgary and a Fellow at PPF, delivered the keynote address, sharing findings from a new report, Unlocking Regional Growth: The Role of Internal Trade Costs in Atlantic Canada, released today by PPF. "The cost of doing business across provincial borders is quietly placing strain on our economy," said Tombe, whose research has shown that the Atlantic provinces are the most profoundly affected by internal trade barriers in Canada. "The Province of Nova Scotia, along with Ontario, Alberta, British Columbia, Manitoba and Prince Edward Island, is taking steps to improve trade and investment opportunities between provinces." According to his new research, the cost of moving goods between the Atlantic provinces is equivalent to a six per cent tariff, while the cost of trading services is nearly 39 per cent. "To put that in perspective," said Tombe, "the national averages are much lower—around 1.4 per cent for goods and 16.8 per cent for services. "Reducing internal trade barriers in Atlantic Canada is a low-cost, high-impact policy lever with the potential to significantly boost wages, productivity, and economic growth. This is not just good policy for Atlantic Canada, it benefits the entire country." The forum also featured insightful discussions with government and private sector leaders who shared real-world insights and perspectives on opportunities and challenges related to breaking down trade, competition, and regulatory barriers in Canada. Key public sector voices included Nova Scotia Finance Minister John Lohr, Halifax Mayor Andy Fillmore, Jeannine Ritchot, Assistant Deputy Minister, Multilateral Relations & Internal Trade, Intergovernmental Affairs, Government of Canada, and Angela Houston, Executive Director, Trade and Economic Policy, Nova Scotia Department of Intergovernmental Affairs. To find out how reducing trade barriers between provinces can drive economic growth across Canada find Trevor Tombe's full report here: / Quotes "Nova Scotia is showing the country how to move forward in removing productivity barriers related to trade, regulation, and competition. Provincial trade agreements between Nova Scotia and a growing number of other provinces are leading the charge, making it easier for workers, businesses, and services to move freely across borders." - Ian Munro, Chief Economist at Halifax Partnership "Provinces hold the key to unlocking Canada's economic potential. By strengthening internal trade and labour mobility, we can reduce our reliance on volatile international markets and build greater resilience against external shocks like tariffs. It's time for provinces to step up and drive Canada's long-term prosperity." -Trevor Tombe, Professor, Department of Economics & Director of Fiscal and Economic Policy School of Public Policy, University of Calgary and Fellow, Public Policy Forum "PPF has had a long-standing interest in Atlantic Canada's economic prosperity, including the creation of our Atlantic Momentum index to track growth indicators over time. We look forward to documenting the positive impact of removing trade barriers, increasing productivity, and attracting investment throughout the region, as well as stories of change that will be a consequence of these actions." -Inez Jabalpurwala, President and CEO of the Public Policy Forum About the School of Public Policy The School of Public Policy at the University of Calgary is undertaking Canada's Productivity Initiative, a year-long national project that explores key drivers of Canada's lagging productivity and growth. The Halifax forum follows successful sessions in Calgary and Ottawa and will be followed by events in Vancouver, Montreal, Saskatoon, and Toronto, culminating in a comprehensive policy recommendations report to be released in late 2025. About Halifax Partnership The Halifax Partnership is Halifax's public-private economic development organization, dedicated to building an inclusive, thriving, and prosperous Halifax in collaboration with its Investors and partners. The Partnership is leading The Productivity Puzzle initiative, a series of events, discussions, and research designed to spark a broader conversation around Nova Scotia's critical productivity crisis and solutions that could improve economic growth, living standards, and future prosperity. Learn more at About Public Policy Forum The Public Policy Forum (PPF) brings together leaders from across sectors to improve policy outcomes for Canadians. A non-partisan organization with a 30-year history, PPF fosters inclusive dialogue, delivers impactful research, and champions innovative approaches to policy development. SOURCE Halifax Partnership
National Post
29-05-2025
- Business
- National Post
GDP could grow by $70B if Quebec removes trade barriers: report
OTTAWA – The Quebec government could boost the Canadian economy by approximately $69.9 billion if it removes trade barriers with the rest of the country, a think tank in the province estimates. Article content Article content According to a new study by the Montreal Economic Institute (MEI), the signing of an agreement between Quebec and Ontario alone would increase Canada's GDP by approximately $32.2 billion. Article content 'Premier François Legault should follow Nova Scotia Premier Tim Houston's approach and adopt mutual recognition laws with the rest of the country,' said Trevor Tombe, a professor of economics at the University of Calgary and senior fellow at the MEI. Article content Article content The province will accept, without testing or additional fees, any product approved for use in the other province, even if it does not meet local standards. The law also applies to licensed services and professionals. Article content Ontario, New Brunswick and Prince Edward Island have also joined the party, with measures to reciprocate Nova Scotia and increase trade. Article content 'It's one of the surest and lowest-cost ways for provincial governments to unleash Canadian productivity growth,' said Tombe. Article content So far, all these measures are leading the way to internal free trade zones with the potential to boost the country's economy substantially, according to MEI. Article content Article content For example, Ontario and Nova Scotia alone could boost the Canadian economy by nearly $4.1 billion. Article content However, all eyes are on Quebec's next move because of its numerous regulations. Article content The office of Quebec's Minister Delegate for the Economy Christopher Skeete told National Post that the government intends on introducing a bill 'very soon.' Article content 'We should welcome the provinces' willingness to reduce interprovincial trade barriers. Quebec is working on its own, and we welcome the bills from other provinces,' said the minister's spokesperson Léa Fortin in a text message. Article content In the past, Skeete has said that Quebec 'is ambitiously committed to improving the local business environment.' But when it comes to reciprocal measures with Nova Scotia and other provinces, it's not clear if the province is ready to make that step.
National Post
20-05-2025
- Business
- National Post
'Consequential:' Stakes are high as G7 financial chiefs meet in Banff
A gathering of many of the world's most powerful financial decision-makers at a mountain retreat in Banff this week could herald the most crucial series of G7 meetings in years. Article content Article content That's the view of a number of political and economic experts ahead of the G7 Finance Ministers and Central Bank Governors summit, which takes place on the slopes of Sulphur Mountain from May 20 to 22. Article content Article content Strains in global alliances due to a U.S.-instigated trade war and a possible crossroads in the Ukraine-Russia war makes the gathering — and the more prominent G7 leaders' gathering in Kananaskis next month — potentially the most impactful in years, said University of Calgary economist Trevor Tombe. Article content Article content 'It could be one of the most important G7 meetings we've had in quite some time. It means it's going to be quite consequential,' said Tombe. Article content The meeting of finance ministers and bank governors from host country Canada, the U.S., Germany, the U.K., Italy, France and Japan could try to stake out common ground on the trade front to direct their fire against China, particularly on the crucial steel and aluminum front, he said. And though the so-called trade deal brandished by U.S. President Donald Trump is largely dubious, it could provide the high-ranking officials with a blueprint they can build on, said Tombe. Article content 'It might be a bit ridiculous, but it took away some of the uncertainty . . . it might be extended to other economies,' he said. Article content Article content 'If there's a desire to make some deals like with the U.K., it might be an opportunity (in Banff) to discuss what these deals might look like.' Article content It comes at a time when economists and world leaders worry about a global recession brought on by trade disruptions. Article content That turbulence has been evident in the past few days as Moody's downgraded the American credit rating, and U.S. Treasury Secretary Scott Bessent warned his country could increase tariffs against countries that fail to negotiate trade deals in 'good faith.' He's also admitted consumer prices at retail giant Walmart will likely increase due to tariffs. Article content U.S. tariffs against Canadian business sectors remain, and in public, Bessent has stuck to the White House line that Trump's unpredictability is a negotiating tactic.
Calgary Herald
19-05-2025
- Business
- Calgary Herald
'Consequential:' Stakes are high as G7 financial chiefs meet in Banff
A gathering of many of the world's most powerful financial decision-makers at a mountain retreat in Banff this week could herald the most crucial series of G7 meetings in years. Article content Article content That's the view of a number of political and economic experts ahead of the G7 Finance Ministers and Central Bank Governors summit, which takes place on the slopes of Sulphur Mountain from May 20 to 22. Article content Article content Strains in global alliances due to a U.S.-instigated trade war and a possible crossroads in the Ukraine-Russia war makes the gathering — and the more prominent G7 leaders' gathering in Kananaskis next month — potentially the most impactful in years, said University of Calgary economist Trevor Tombe. Article content Article content 'It could be one of the most important G7 meetings we've had in quite some time. It means it's going to be quite consequential,' said Tombe. Article content The meeting of finance ministers and bank governors from host country Canada, the U.S., Germany, the U.K., Italy, France and Japan could try to stake out common ground on the trade front to direct their fire against China, particularly on the crucial steel and aluminum front, he said. Article content And though the so-called trade deal brandished by U.S. President Donald Trump is largely dubious, it could provide the high-ranking officials with a blueprint they can build on, said Tombe. Article content 'It might be a bit ridiculous, but it took away some of the uncertainty . . . it might be extended to other economies,' he said. Article content 'If there's a desire to make some deals like with the U.K., it might be an opportunity (in Banff) to discuss what these deals might look like.' Article content It comes at a time when economists and world leaders worry about a global recession brought on by trade disruptions. Article content That turbulence has been evident in the past few days as Moody's downgraded the American credit rating, and U.S. Treasury Secretary Scott Bessent warned his country could increase tariffs against countries that fail to negotiate trade deals in 'good faith.' He's also admitted consumer prices at retail giant Walmart will likely increase due to tariffs.
