Alberta referendum result removes a ‘major’ uncertainty, businesses say

After the majority of Albertans voted to remain in Canada, the Canadian dollar increased in value and some business leaders say the result should bring confidence to consumers and business owners alike.

“Businesses, workers and communities can feel more confident with this result. As we digest the results of this process, we are reminded that we can never take national unity for granted. It is cultivated day by day,” said Candace Laing, president and CEO of the Canadian Chamber of Commerce, in a statement.

“Alberta is central to economic security and opportunity in Canada and we must now turn our attention squarely to the needed work to collaboratively build a stronger, resilient, united economy from coast to coast to coast.”

The Business Council of Alberta’s president, Adam Legge said in a statement it’s “delighted” with the results as it “provides an important foundation” for the province’s economy, as well as families and workers to move forward with more certainty.

“While today’s result settles the question of separation, the concerns that brought it to the forefront remain.  We urge the governments of Canada and Alberta to continue working together to pursue fairness for Alberta,” said Legge.

Alberta’s small business leaders also said the referendum results should provide small and medium-sized business owners with some relief.

Keyli Loeppky, senior director of Alberta and interprovincial affairs at the Canadian Federation of Independent Business, said in a statement that the referendum vote result should provide “greater certainty for small businesses at a time when they are already facing significant economic challenges.”

“Small business owners value stability, predictability, and access to customers, suppliers, and workers across Canada,” said Loeppky.

“This result removes a major source of uncertainty and allows businesses to focus on growing their operations rather than navigating questions about Alberta’s future constitutional status.”

Elections Alberta began releasing the results of the province’s referendum decision late Monday night, with around 76 per cent of Albertans voting to remain part of Canada.

The separatism question asked voters if Alberta should remain in Canada or if the provincial government should begin the legal process of holding a future binding referendum on whether to separate.

Monday’s results mirror more than half a year of polling, which since the beginning of 2026, has consistently shown about 70 per cent of Albertans want the province to remain in Canada.

In January, an Ipsos poll found about three in 10 residents supported independence, but a deeper dive revealed that when faced with the costs and consequences, only half of those interested in separatism were truly committed to following through.

The referendum vote also comes as Canada faces an ongoing trade war, with U.S. tariffs especially hammering the economy and job market, and as the Iran war and Russia’s war with Ukraine lead to rising oil and gas prices and threaten to continue accelerating inflation.

Amid these economic challenges, the federal government has been seeking to unify Canada by easing interprovincial trade restrictions and working with individual provinces and territories, including Alberta, to find ways to maximize Canada’s economic potential.

Earlier this month, the newly announced Pacific Coast Pipeline was officially designated as a project of national interest, and falls under Prime Minister Mark Carney’s Major Projects Office, a government branch meant to speed federal approvals for significant economic initiatives. The pipeline, which will run mostly parallel to the current Trans Mountain pipeline, is expected to increase the output of Alberta oil to Asian markets via B.C. by one million barrels per day.

The future of the pipeline was hanging in the balance prior to Monday’s vote as some separatist leaders suggested leaving Alberta would mean taking the pipeline and its revenue with it.

The loonie also popped once the referendum results came in.

Shortly after polls in Alberta closed on the evening of Oct. 19, the Canadian dollar’s value began to rise by about a third of a U.S. cent to 71.2 cents as of publication.

Derek Holt, vice president and head of Capital Markets Economics at Scotiabank said in a statement that the loonie’s reaction was more likely reflective of higher oil prices worldwide, as well as rising expectations that the Bank of Canada will be increasing interest rates sooner than later.

After the referendum vote Holt also said, “Canada emerges from the vote in stronger fashion.”

“The last thing it [Canada] needed was division given that the U.S. administration seems closer to Russia than Canada and the need for national unity around core domestic priorities,” said Holt.

“There should be some accountability for having called this waste of taxpayer money in the first place and the risk that a surprise Brexit-like vote could have been a risk.”

Holt continued: “How separatists exact their vengeance on the provincial administration remains uncertain.”

Alberta Premier Danielle Smith and the governing United Conservative Party (UCP) will have to contend with a motivated and more organized separatist movement turning their efforts to oust the premier and take control of the party.

Jeffrey Rath, one of the central figures in the separatist movement who had a hand in former premier Jason Kenney’s ouster, told Global News he will be pushing for a special general meeting of the party to remove Smith.

Rath said Alberta independence will never be realized as long as Smith, who he called an “avowed federalist,” remains leader.

“Moving forward from here, our hundreds of thousands of members and volunteers are going to be committed to taking back ownership of the (UCP),” Rath said.

– with files from Global News’ Karen Bartko and Alex Boutilier