At a news conference in one of Calgary’s many empty office spaces, the Canadian Taxpayers Federation (CTF) today outlined why Calgarians should not bet on the Olympics to solve the city’s current challenges.
“Calgary shouldn’t waste billions of dollars on a sporting event eight years from now to solve our current challenges and grow the economy,” said Franco Terrazzano, Alberta Director with the CTF.
Calgary 2026 estimated the Olympics will provide over $7 billion in economic benefits. Economists have been quick to decry this estimate as absolutely overstated. The scholarly evidence does not support large economic claims.
According to the Canadian Federation of Independent Business (CFIB), 53 per cent of business owners surveyed in Calgary have considered moving their business due to high property taxes.
“The last thing Calgary needs to grow the economy, create jobs and attract people and investment is more taxes,” continued Terrazzano. “The Olympics is a fun sporting event, but it’s time to stop promoting the games as a way to grow the economy and create jobs.”
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