Prime Minister Mark Carney's "One Canadian Economy" bill has been introduced with the goal of making Canada a "superpower" by streamlining the approval process for major development projects, particularly those related to clean energy and fossil fuels.
Screenshot_20250606_142517_X.jpg
This legislation aims to position Canada as a leader in the global market and reduce its dependence on the U.S. by accelerating the construction of critical infrastructure. The bill opens a five-year window for conditional approval of select projects, allowing them to bypass the typical regulatory hurdles and instead focus on how they should be built. The selection criteria are broad, with factors including Canada's economic and environmental interests and the potential benefits for Indigenous Peoples.
The bill has sparked concerns from environmental groups and some Indigenous leaders regarding potential impacts on environmental protections and the adequacy of consultation processes. Conservative Leader Pierre Poilievre has criticized the bill for not going far enough in addressing internal trade barriers and fast-tracking projects without provincial consent. However, the Canadian Association of Petroleum Producers and the Canadian Chamber of Commerce have expressed support for the legislation.
The proposed law also addresses trade barriers by seeking to eliminate federal regulations that duplicate provincial standards and simplifying labor licensing to facilitate interprovincial mobility. The Carney government hopes to remove the remaining 17 exceptions to the 2017 federal-provincial free trade agreement by July 1 to further enhance Canada's economic competitiveness. This bill is part of the Liberal's broader economic strategy to bolster Canada's position in the face of international trade tensions and environmental challenges.
Toronto's star