The biggest barrier to economic growth in New Brunswick could be the demographic challenge with an aging population according to the province’s chief economist David Campbell.
He has told Saint John Common Council at a special meeting on the economy that thousands and thousands of immigrants will be needed to spur growth.
However, he questions whether New Brunswick is ready for an influx of immigrants and a more diverse population.
Councillors have also been told the Saint John economy has become too reliant on funding from the province in the form of the unconditional grant.
That’s according to the Executive Director of the City Manager’s office, Phillippe Ouellette who says when you need provincial money to sustain your operations, that’s not an indication of economic health.
Ouellette says Fredericton and Moncton both get less money from the province which reveals those two cities are more financially self sufficient than Saint John.
He adds Saint John once had the largest tax base in the province and now is third behind Moncton and Fredericton which has fewer people.
Ouellette adds another barrier to economic growth is the literacy problem, not only in Saint John but for the province as a whole.
