Atlantic Provinces Unite for Economic Growth
A group of business leaders in Eastern Canada has proposed a 'single economy' between Atlantic provinces to boost economic output and attract more investment.
The proposal, outlined in a report by the Atlantic Economic Panel, aims to create a unified regional market by removing trade barriers and promoting labor mobility across Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
The panel's chairman, Don Mills, noted that Atlantic Canada has underperformed compared to the national GDP for three decades, with a one percent annual gap. The report recommends creating a 'One Atlantic Canada' agenda to address low productivity, labor shortages, and complex regulations.
The plan includes investing $25 billion in infrastructure, including an integrated electricity system managed by a regional independent system operator, as well as increasing exports to Europe to over $30 billion.