BCA Podcasts

The BCA team dives into many of the leading and lagging economic indicators that tell us a bit about where Alberta's economy stands compared to the summer snapshot. They also dive into some of the political developments both nationally and globally and what they could mean for Alberta and Canada's economic forecast into 2025. There are several positives in Alberta's outlook. The Bank of Canada's interest rate hikes seem to have set Canada's economy up for the 'soft landing' they hoped for, curbing consumption and inflation without significant job losses. Meanwhile, Alberta continues to be the economic engine of Canada, significantly outperforming the rest of the country in jobs and economic growth. However, the Alberta and Canadian economies are showing signs of slowing, with job growth decelerating over the past 6-8 months.  Certain "good" sectors like manufacturing, construction, and oil/gas have seen job growth level off after strong gains earlier. This suggests consumer demand has weakened. Newcomers and recent immigrants are being hit particularly hard, with their unemployment rate rising from 10% to 15% over the past year. Interest rate hikes have started to be reversed, but the full impact of past increases has not yet been felt in the economy. It takes time for rate changes to filter through. The federal government's planned cuts to immigration levels could have significant impacts, though there are questions around whether the full extent of the cuts will actually materialize. The housing market is seeing a surge in construction activity, especially in Alberta compared to other regions, but it is yet to be seen how this will play out given Canada's anticipated pullback in population growth. Globally, central banks are seen as having tamed inflation, but there are risks around rising protectionism that could impact the economy. --------------------- About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Check out recent episodes of our BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on social media: Twitter: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV

Warren Stow, the visionary CEO of GrainsConnect, shares his captivating journey from his roots on a family farm in Graysville, Manitoba, to leading a pivotal player in the grain industry. Hear firsthand about the strategic operations that channel Western Canadian grains and oilseeds to global markets, and how Warren's agricultural upbringing and diverse career experiences shaped his leadership. Discover the intricate dance between tradition and innovation that propels GrainsConnect forward, navigating challenges from labour disruptions to leveraging cutting-edge technology.  Our conversation with Warren, the strategic leader at GrainsConnect, uncovers his philosophy of building success by surrounding himself with talented minds. Warren provides an inside look at the grain's efficient journey from the Canadian fields to international ports, highlighting the strategic advantages of the Fraser Grain Terminal. His insights emphasize the importance of resilience and innovation in maintaining a competitive edge amidst labour and infrastructure challenges, while ensuring a seamless experience for farmers and international buyers alike.  As we look to the future, we explore GrainsConnect's strategic outlook for Alberta's agriculture sector. The path to growth is rife with opportunities, from diversifying operations to ensuring food security in the face of climate and market pressures. Warren expresses optimism for Western Canada's agricultural future, calling for enhanced government support and innovation. This episode celebrates the vital role of the grain industry in the global food supply, underscoring the need to elevate agriculture's status within national priorities. Join us for an insightful discussion on leadership, supply chain mastery, and the promising future of Canadian agriculture.  About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

Understand the frustrations behind Bill C-59's controversial greenwashing amendments with insights from Adam Legge, President of the Business Council of Alberta. Can these changes to the Competition Act redefine the landscape for Canadian companies making environmental claims? Discover how the lack of clarity and rushed legislation might stifle innovation and corporate communication, leaving the Competition Bureau in a tough spot. Explore the broader implications of discouraging future-oriented environmental claims and the potential chilling effect on Canadian entrepreneurship. As Adam sheds light on the disconnect between policymakers and business leaders, you'll gain a deeper understanding of how these provisions could impact investment, growth, and ultimately, the country's economic competitiveness. This episode challenges the cautionary stance taken by the government and its ripple effect on individual livelihoods and Canada's standard of living. We also delve into the complex layers of existing regulations that companies must navigate and how the proposed amendments could lead to frivolous claims that overwhelm the system. From small soap manufacturers to oil giants, businesses are at risk of becoming overly cautious. Tune in to hear our proposal for clear guidance from the Competition Bureau, creating a safe harbour for forward-looking statements that foster a thriving environment for innovation and entrepreneurship. About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

On this episode, we welcome Ian Burns, CEO of Connect First and Servus Credit Union Limited, who shares his remarkable journey from working at a Costco in high school to leading a major credit union. Ian opens up about his educational background and the unexpected transitions that shaped his career, including a pivotal stint at TELUS. His story is filled with resilience, adaptability, and the importance of seizing opportunities, offering valuable lessons for aspiring leaders. We explore some of the leadership challenges in the world financial services, as well as the transferability of business skills across industries and the critical role of customer service. Ian shares personal anecdotes from his time at TELUS, including innovative strategies during the 2005 strike. We discuss the current challenges faced by credit unions, such as balancing customer and employee needs, navigating economic hurdles, and addressing competition from fintechs and large corporations. The conversation also highlights the consolidation trend within the credit union sector and the strategies for maintaining a competitive edge. The unique culture and operational model of credit unions takes center stage as we examine the advantages of member ownership over traditional banks. Ian explains how credit unions prioritize their members' best interests by being driven not by profits, but by principles of purpose, autonomy, and mastery. Looking ahead, the conversation touches on future growth, digital innovation, and the balance between technology and maintaining community ties, providing a comprehensive view of the long-term outlook for credit unions in Alberta. About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

What happens in British Columbia has a huge impact on Alberta, and a lot is happening in B.C. as the Oct. 19 election approaches. Top B.C. political commentators Allie Blades and Rob Shaw join us for a riveting discussion about the rapidly evolving policy and political landscape and the implications for Alberta.  Our guests provide an in-depth look at the unique dynamics and challenges that have emerged for the reshaped party landscape – with the BC United Party halting its campaign, merging with the B.C. Conservatives, and setting up a close contest with the BC NDP. We lean into some of the policy proposals and differences between David Eby’s New Democrats and John Rustad's Conservatives and what these shifts could mean for Alberta.  We also take a closer look at the interconnected politics of Western Canada, examining how B.C.'s shifting public opinion and policy environment might align with Alberta's stance on pivotal issues like resource development, emissions policies, and even addiction recovery.  About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

What was initially a modest $350 million surplus has now skyrocketed to an impressive $2.9 billion. In a first quarter fiscal update that was far from typical, what drove this sudden surplus and what are some of the challenges that come with it? Join us as we sit down with Alberta's Minister of Finance Nate Horner to dissect Alberta's surprising first quarter fiscal update. We'll discuss the driving forces behind this unexpected increase, including oil and gas prices and Alberta's rapid population growth, while also examining the dual-edged sword they represent—while more people mean higher income tax revenue, they also bring added pressure on health, education, and social services. In another compelling segment, we address the complexities of public sector compensation, which accounts for nearly half of Alberta's provincial budget, as well as how federal budgetary decisions may play a role in shaping Alberta's own budget. Labour Market Transfer Agreements (LMTAs) face significant challenges following the cessation of federal funding, affecting key programs like the Canada-Alberta Jobs Grant.  Listen in as we highlight Alberta's ongoing economic forecast and fiscal strategy, including greater investment in schools and healthcare, the personal income tax cut initiative, the strategic management of the Heritage Fund, and how to prepare for and mitigate the impact of contingencies like natural disasters. Finally, we explore why Alberta continues to attract people despite economic pressures, focusing on its affordability and opportunities.  About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

Get ready for an eye-opening discussion with Derrick Hynes, President and CEO of FETCO, as we unravel the complexities of the ongoing rail work stoppage in Canada. Derrick brings to the table his profound insights on the challenging landscape of collective bargaining in a post-COVID world and the significant economic risks at stake. He also shares the proactive measures FETCO has recommended to the Minister of Labour, aiming to strike a fair balance between union demands and employer capabilities while highlighting the pivotal role FETCO plays in representing large employers in federally regulated sectors. We also delve into the broader context of Canadian labour disputes and legislation, focusing on the minister's authority under Section 107 to intervene in labour issues. Through an exploration of recent case law and procedural insights from the Canada Industrial Relations Board, we examine the tension between the right to strike and the minister's powers. Derrick meticulously outlines the timeline of the minister's decision-making process and its ramifications for Canadian labour relations. This episode promises a comprehensive understanding of the passionate stances of all parties involved and the potential outcomes for the future of labour relations in Canada. About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

Join us on C-Suite Unplugged as we sit down with Avik Day, President and CEO of Capital Power, for an insightful conversation about his journey to the C-Suite and the dynamic world of power generation. Avik shares his experiences from growing up in Calgary to his career in the global energy business, highlighting roles in capital markets, private equity, and entrepreneurship. He discusses Capital Power's commitment to innovation and balanced energy solutions, emphasizing the interconnectedness of the energy sector with politics, commerce, and climate. Avik also addresses the complexities of implementing clean electricity regulations across Canada, the challenges faced by provinces like Alberta, and the implications of Canada's clean electricity regulations. This episode is packed with insights on navigating energy markets and the future of power generation. About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

Episode Description Join us as we explore the intricate economic landscape of Alberta in mid-summer, where high inflation and interest rates contrast with robust economic growth. Alongside our chief economist, Mike Holden, we unpack the paradox of a thriving economy and rising unemployment rates in major cities like Calgary and Edmonton. Despite the high business optimism and strong private sector job growth, the rapid influx of newcomers is outpacing job creation, presenting unique challenges for the province. We also examine the financial struggles facing Albertans amidst rising living costs. Inflation may be slowing, but the cost of rent has surged nearly 16% over the past year, leaving many feeling financially insecure. Shifts in consumer spending patterns reveal a decline in discretionary spending and an uptick in essential purchases driven by population growth. Our discussion highlights nuanced retail trends, such as increased sales at gas stations and hardware stores, despite a drop in per-person spending. Looking ahead, we delve into Alberta's economic future, discussing projections that consider inflation, interest rates, and population growth. The potential benefits of decreasing inflation and interest rates could provide relief, particularly for homeowners. We highlight the positive impacts of the U.S. economy on Alberta and the importance of accommodating significant population growth through infrastructure investment. Finally, we explore the critical issue of unemployment rates, emphasizing the need for job creation to match the rapid population influx, ensuring newcomers can contribute positively to Alberta's prosperity. ------------ About the Business Council of Alberta The Business Council of Alberta was founded on a simple idea: to make life better for all Albertans. We believe that business has an important role in improving society, and that when business does well, we all do well. We work with the chief executives and leading entrepreneurs of Alberta’s largest enterprises to understand the big, long-term challenges that Albertans are facing and work with industry, government, and civil society to solve these problems and build shared prosperity for every person who calls Alberta home. Check out more of our recent work: https://bit.ly/3JG9ifS Listen to BCA Podcasts: https://bit.ly/3bHlfFB Subscribe to our monthly newsletter: https://bit.ly/3BPxDhv Follow us on socials: LinkedIn: https://bit.ly/3QaetHE YouTube: https://bit.ly/3QswqAV X: https://bit.ly/3P7pgB0 Facebook: https://bit.ly/3Qx6B2J

Alberta's opportunity to contribute to global solutions in agriculture, energy, and health is immense. Seizing this opportunity will take big ideas, lots of collaboration, and a little “can do” attitude. In the special series of The Brief, called Missions & Moonshots, we are talking to top experts, business leaders, innovators, and thought leaders across Alberta and Canada exploring solutions to the world’s biggest challenges in energy, agriculture, and health. Our guest is Vicki Lightbown, the Director of the Water Innovation Program at Alberta Innovates. She discusses the state of drought in Alberta today, how innovation can make us resilient in the face of a crisis and what challenges stand in the way of innovation adoption. Vicki Lightbown’s discussion paper can be read here: http://bit.ly/3h5Lb0k About Vicki Lightbown Vicki Lightbown is the Director for the Water Innovation Program at Alberta Innovates. She is a Professional Engineer with a BSc in Civil Engineering from the University of Calgary. In 2015, Vicki was a recipient of the Young Women in Energy award and in 2016 she was named in the Top 35 under 35 in Canada’s Energy Sector by the Alberta Oil Magazine. In Vicki’s role with Alberta Innovates she works proactively to identify critical technology and knowledge gaps and apply world-class research to develop solutions for some of the biggest water challenges in Alberta.