Atlantic Provinces Push for Unified Economy to Boost Growth

Business leaders in Eastern Canada are calling for a unified 'single economy' between Atlantic provinces to boost economic growth and attract investment. The idea was outlined in a report released by the Atlantic Economic Panel, which includes seven prominent executives and entrepreneurs.

The panel's chairman, Don Mills, emphasized that the region has underperformed compared to the rest of Canada for decades, with gross domestic product growth lagging behind by one percent annually over three decades. Mills stressed that action is needed to address low productivity, labour shortages, and complex regulations that hinder businesses.

The report's key recommendation is the creation of a 'One Atlantic Canada' agenda, aiming to bring the provinces together as one economy for 2.7 million residents while maintaining their own governments. This would involve removing trade and labour mobility barriers, presenting major investment opportunities through a single regional platform, and delivering at least half of all infrastructure projects through regional partnerships.

The panel also suggested creating an integrated electricity system managed by a region-wide independent operator, which would require $25 billion in infrastructure investment. Additionally, they recommended growing the population to over three million people, doubling exports to Europe, and increasing natural resource investments by at least 50 percent.