Canada's Atlantic Provinces Urged to Unite as 'Single Economy'

A group of Eastern Canada business leaders, known as the Atlantic Economic Panel, has released a report calling for the creation of a 'single economy' between the four Atlantic provinces. The report aims to increase prosperity and address challenges such as low productivity and labour shortages in the region.

The Atlantic Economic Panel is made up of seven well-known executives and entrepreneurs, and is chaired by Don Mills, president of Crane Cove Holdings Ltd. The panel's report proposes seven recommendations, including the creation of a 'One Atlantic Canada' agenda, which aims to bring the provinces together to function as one economy for its 2.7 million residents.

The region's economy is suffering from low productivity, labour shortages and complex regulations and trade barriers. Atlantic Canada has the country's most rapidly aging workforce, which poses a significant challenge to the region's economic growth. To address these challenges, the report recommends the removal of trade and labour mobility barriers and the creation of a regional investment platform.

One of the key recommendations is the creation of an integrated electricity system, which would require $25 billion in infrastructure investment. The report also calls for delivering at least half of all major infrastructure projects through regional partnerships and for a workforce strategy to ensure workers' credentials are recognized across the region.

## Why it matters The creation of a 'single economy' in the Atlantic provinces could have significant benefits for the region. By removing trade and labour mobility barriers, the provinces could increase economic growth and attract more investment. The region's abundant talent and resources could be leveraged to make Atlantic Canada one of the country's most prosperous regions.

The report's recommendations are aimed at addressing the region's challenges and creating a more prosperous future for its residents. The 'One Atlantic Canada' agenda is a key part of this effort, and its implementation could have a significant impact on the region's economy. With a population of 2.7 million residents, the Atlantic provinces have the potential to become a major economic hub in Canada.

## What happens next The report's release is just the first step in the process of creating a 'single economy' in the Atlantic provinces. The next steps will involve the implementation of the report's recommendations, which will require cooperation and coordination from the four provinces. The creation of a regional investment platform and the removal of trade and labour mobility barriers will be key to the success of the 'One Atlantic Canada' agenda.

The Atlantic Economic Panel's report provides a guide for the economic transformation of the four provinces by 2035. The report's recommendations are ambitious, but they have the potential to create a more prosperous future for the region. As the provinces move forward with the implementation of the report's recommendations, it will be important to monitor progress and address any challenges that arise.