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Ivany to appear as witness before Economic Development committee
Acadia University president Ray Ivany, head of the five-member panel on Nova Scotia's economic recovery, releases their final report in Halifax on Wednesday, Feb. 12, 2014. The report presents 12 strategies promoting expanded immigration, enhanced research and development and revitalization of traditional rural industries. THE CANADIAN PRESS/Andrew Vaughan
[HALIFAX, NS] – The province's standing committee on economic development will meet Thursday to discuss a recently released report that states Nova Scotia is doomed to endure a period of decline unless population and economic trends are reversed.
Ray Ivany, chair of the commission on building a new economy will appear as a witness to discuss the report, which issued an urgent call to action for Nova Scotians.
Ivany is originally from Cape Breton and is currently president of Acadia University.
The economic development report was written by a five-member panel. It indicated the province is in such bad shape that it is barely able to support its current standard of living.
On the economic front, Nova Scotia has recorded the worst performance of any province, on average, over the past 20 years.
"Because of a combination of economic and demographic factors, we are teetering on the brink of long-term decline," Ivany says.
Ivany says Nova Scotia's population is expected to decline over the next 20 years as young people continue to leave the province to search for work. By 2036, the province expects to have 100,000 fewer working-age people than it did in 2010, the report says.
"You cannot have economic success with a population decline," Ivany says. "There's no way you can make that up with productivity or efficiency gains."
The standing committee meeting will take place Thursday from 9:30-11:30 a.m. in the red chamber at Province House, 1726 Hollis St. in Halifax.