Later this week, the federal government is set to announce a new selection of significant projects that will receive expedited approvals, Prime Minister Mark Carney stated on Monday, as Canada seeks to boost economic activity amid the ongoing trade dispute with the U.S.
Carney mentioned that the announcement will take place in Prince Rupert, B.C., on Thursday. The Ksi Lisims liquefied natural gas (LNG) project, which is Indigenous-led and located near Prince Rupert, was approved by the federal government in September and has now obtained all required permits to begin construction.
Earlier that month, the government approved five additional projects for an accelerated review process — including another significant LNG expansion in British Columbia, a small modular reactor initiative in Ontario, enhanced port facilities in Montreal, and new copper mines in Western Canada. Carney emphasized that the upcoming set of projects is just the beginning.
He mentioned that the Major Projects Office will maintain a “living list,” with new projects regularly incorporated as the government aims to accelerate economic growth by removing bureaucratic hurdles and exempting certain projects from specific regulations.
“This is not a one-off initiative,” he responded when asked about the absence of projects from some provinces on the list. “It won’t be a single round of projects followed by a period of inactivity.”
Regarding the potential effects on Canadians’ lives if economic growth falls short, Prime Minister Mark Carney indicated that the Canadian economy could be “almost two percent lower” due to the “scale” and “uncertainty” surrounding U.S. tariffs.
Carney’s budget, revealed last week, allocates approximately $214 million over the next five years, along with an additional $10 million for Indigenous consultation initiatives, to support the new office’s approval processes.
The government’s strategy for growth heavily relies on the swift development of these primarily energy- and resource-centric projects, aiming to widen Canada’s markets beyond the increasingly protectionist U.S.
Carney remarked that Canada is facing “a dramatically different U.S. trade policy than any we have encountered in our lifetimes,” and the country must act swiftly to stabilize its economy.
“This is why we must act quickly. This is why this budget is appropriate,” he stated. “We have control; we make the decisions — it is our future.”
In addition to the five projects already approved, the budget indicates that other significant projects under consideration for expedited approval include the Toronto-Quebec City high-speed rail initiative, expanded port facilities in Churchill, Manitoba, development of critical minerals across the nation, and an Alberta-based carbon capture and storage initiative called “pathways plus” aimed at reducing emissions in the oil sands, among other proposals.
Regarding Alberta Premier Danielle Smith’s request for Carney to authorize a new oil pipeline to the Pacific Coast, which faces strong opposition from B.C. officials and certain coastal Indigenous groups, the Prime Minister suggested that progress could be made on that front soon.
During a speech to the Canadian Club in Toronto late last week, Carney reassured the predominantly business-friendly audience not to be concerned, stating, “we’re addressing the pipeline issues,” without divulging any specifics.
However, Carney added, “Well, something’s going to happen, let’s just say that.”
Conservative Leader Pierre Poilievre, who has faced a challenging week with two announced departures from his caucus, has been vocally critical of Carney’s budget and skeptical of his stated commitment to expedite project development.
“Mr. Carney’s answer to excessive government obstruction of our resource projects is to establish yet another government department,” Poilievre remarked in a post-budget address to a business audience in Toronto last week.
“Constructing an oil pipeline clearly will not happen under his administration.”