Alberta Business Leaders Sound Alarm on Separation Economic Fallout

Business leaders in Alberta have spoken out against the province's potential separation from Canada. The Calgary Chamber of Commerce released an open letter warning of severe economic consequences, signed by CEOs from companies such as AltaGas, ATCO, and Capital Power.

The study by University of Calgary economist Trevor Tombe estimates that trade costs would increase by 5-8% if Alberta were to separate, equivalent to the UK's post-Brexit losses. This would lead to job reductions of up to 175,000 in Alberta and a $62 billion annual hit to the economy.

Alberta would also face a $9 billion fiscal shortfall, which could be bridged by introducing a 13% sales tax, increasing corporate income tax by 10%, or slashing government transfers such as the Canada Child Benefit and old age security.