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Local business community frustrated with the economy, taxes and red tape

Published

6 years ago

3 minute read

Chamber survey shows frustration with economy, taxes, and regulations

On September 6th, the Red Deer & District Chamber of Commerce published a survey asking about the state of business conditions in Central Alberta. Respondents were asked how their business is affected by government policy, crime, and the economy. Also included were questions regarding management of the city, and future expectations for economic growth.

Chamber CEO Rick More commented on the results, “we’re grateful to all those that took the time to complete the survey and share their insights. These results strongly verify what we’ve suspected and heard anecdotally from the business community. While the economy is clearly the largest impediment to business growth, the City of Red Deer must remain focused on allowing our businesses to be competitive and grow. We’ll continue to work with Council and the City Manager on solutions that allow the city to utilize the levers it has available to alleviate the financial and regulatory strain affecting the success of our business community and our ability to retain and attract new businesses.”

The overall state of the economy was identified as having the largest impact on businesses growth followed closely by red tape and regulations, taxation, and crime. Compared to one year ago, 74% said business conditions in Red Deer have gotten worse and looking ahead a year, only 15% are expecting business conditions to improve with 35% expecting them to remain about the same and 40% think they’ll get worse. Finally, when asked whether they expect their own business over the next 12 months 21% expect to grow, 58% think it’ll stay about the same and 20% think their business will contract.

The results strongly demonstrated frustrations with the cost and regulatory burden of doing business. 69% of respondents think businesses outside the City of Red Deer have a competitive advantage due to less regulatory burden and red tape and just 26% think that business permits are approved by the city in a timely fashion. On the topic of budgeting and taxation, 26% felt businesses within the city get good value for the property taxes they pay and 27% approve of how the city manages it’s budget.

For a full breakdown of survey results, see the infographic here.

The Red Deer & District Chamber of Commerce is a non-partisan, collaborative leader in building a vibrant community and fosters an environment where businesses can lead, be innovative, sustainable, and grow. Learn more about the Chamber here.

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Business

Scott Bessent Says Trump’s Goal Was Always To Get Trading Partners To Table After Major Pause Announcement

Published on April 9, 2025

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From the Daily Caller News Foundation

By Harold Hutchison

Secretary of the Treasury Scott Bessent told reporters Wednesday that President Donald Trump’s goal was to have major trading partners agree to negotiate after Trump announced a 90-day pause on reciprocal tariffs for many countries after dozens reached out to the administration.

Trump announced the pause via a Wednesday post on Truth Social that also announced substantial increases in tariffs on Chinese exports to the United States, saying 75 countries had asked to talk. Bessent said during a press event held alongside White House press secretary Karoline Leavitt that Trump had obtained “maximum leverage” to get trading partners to negotiate with the April 2 announcement of reciprocal tariffs.

“This was his strategy all along,” Bessent told reporters during an impromptu press conference at the White House. “And that, you know, you might even say that he goaded China into a bad position. They, they responded. They have shown themselves to the world to be the bad actors. And, and we are willing to cooperate with our allies and with our trading partners who did not retaliate. It wasn’t a hard message: Don’t retaliate, things will turn out well.”

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China imposed retaliatory tariffs on American exports to the communist country Wednesday, imposing an 84% tariff on U.S. goods after Trump responded to a 34% tariff by taking American tariffs to 104%.

“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump said. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”

“They kept escalating and escalating, and now they have 125% tariffs that will be effective immediately,” Bessent said during the press conference.

Bessent said that China’s actions would not harm the United States as much as it would their own economy.

“We will see what China does,” Bessent said. “But what I am certain of, what I’m certain of, is that what China is doing will affect their economy much more than it will ours, because they have an export-driven, flood the world with cheap export model, and the rest of the world now understands.”

The Dow Jones Industrial average closed up 2,962.86 points Wednesday, with the NASDAQ climbing by 1,755.84 points and the S&P 500 rising 446.05 points, according to FoxBusiness.

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Business

Stocks soar after Trump suspends tariffs

Published on April 9, 2025

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From The Center Square

By 

One gets the feeling this isn’t over yet…

President Donald Trump continued ahead Wednesday with his on-again, off-again tariffs, with his latest tariff suspension sending U.S. markets soaring.

Trump announced Wednesday afternoon on his Truth Social app that he would pause the majority of the reciprocal tariffs he announced last week on “Liberation Day,” the April 2 start of the implementation of the tariffs only to reverse course and put everything on pause.

Stocks jumped on the news with the Dow Jones gaining nearly 6% Wednesday after sharp losses during the previous week.

Treasury Secretary Scott Bessent said it was all part of the plan.

“We saw the successful negotiating strategy that President Trump implemented a week ago today. It has brought more than 75 countries forward to negotiate,” Bessent said Wednesday. “It took great courage for him to stay the course until this moment.”

Trump’s pause includes all the tariffs that went into effect at midnight, except the additional levies on China. Trump has targeted the world’s second-largest economy in a tariff war that China has said it will “fight to the end.”

While many other nations called Trump’s trade team seeking deals to avoid reciprocal tariffs, China showed no signs of backing down.

“The U.S. threat to escalate tariffs is doubly erroneous, once again exposing its extortionist nature. China firmly rejects such actions,” China’s commerce ministry said Tuesday. “Should the U.S. persist in this reckless course, China will respond resolutely until the end.”

Trump’s decision to suspend tariffs came after tough questions from Republicans, including U.S. Sen. John Kennedy, R-La.

“I just don’t know what his goal is right now,” Kennedy said earlier in the day after comparing Trump to a dog chasing a car and catching it.

“President Trump has been a Rottweiler here, but now he’s the Rottweiler who has caught the car,” Kennedy said. “That’s the moment we are in now. My question is: What is he going to do with the car?”

Trump has made big, bold promises about his tariffs. He has said tariffs will make the U.S. “rich as hell,” bring back manufacturing jobs lost to lower-wage countries in decades past and shift the tax burden away from U.S. families. He’s also promised to help working Americans with his tariffs.

On Tuesday, Trump wrote “I’m proud to be the President for the workers, not the outsourcers; the President who stands up for Main Street, not Wall Street; who protects the middle class, not the political class; and who defends America, not trade cheaters all over the globe.”

Public Citizen, a progressive consumer rights advocacy group, said Trump’s latest suspension of tariffs showed he doesn’t support the workers who elected him.

“Who’s left out of his megalomaniacal game? The workers he claimed to support,” said Melinda St. Louis, global trade watch director at Public Citizen. “All he has shown is that he’ll cave to Wall Street’s handwringing and prioritize his own power over real people’s plight.”

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