The upcoming week will witness the unveiling of the latest series of major projects set to receive accelerated approvals, announced Prime Minister Mark Carney on Monday. This initiative aims to boost economic activity in Canada amidst the ongoing trade tensions with the United States.
Carney disclosed that the list of projects will be revealed in Prince Rupert, B.C., on Thursday. Among these projects is the Indigenous-led Ksi Lisims liquefied natural gas (LNG) venture near the city, which secured Ottawa’s approval in September and has now obtained all essential permits for commencing construction.
In September, the government greenlit five other projects for a streamlined approval process, including another significant LNG expansion in B.C., a small modular reactor project in Ontario, expanded port facilities in Montreal, and new copper mines in the western region. Carney emphasized that the upcoming batch of projects to be announced on Thursday will not be the final one.
The Major Projects Office’s function will involve maintaining a dynamic list, with new projects continually added as part of Ottawa’s strategy to accelerate economic growth by reducing bureaucratic obstacles and granting exemptions from specific regulatory obligations.
Carney’s recent budget, unveiled last week, earmarks approximately $214 million over the next five years, with an additional $10 million allocated for Indigenous consultation efforts, to support the approvals process of the new office. The government’s growth strategy primarily hinges on expedited completion of energy and resource-related projects to expand Canada’s market horizons beyond the increasingly protectionist U.S. trade policies.
Acknowledging the unprecedented challenges posed by the current U.S. trade stance, Carney stressed the urgency for swift action to bolster the Canadian economy. He underscored the imperative need for rapid progress, affirming the appropriateness of the budget in steering the nation’s economic future.
In addition to the already approved projects, potential candidates for expedited approval include the Toronto-Quebec City high-speed rail project, Alto; expanded port facilities in Churchill, Manitoba; nationwide critical minerals development; and an Alberta-based carbon capture and storage initiative named “pathways plus” aimed at reducing emissions in the oil sands, among other proposals.
Responding to Alberta Premier Danielle Smith’s call for approval of a new oil pipeline to the Pacific Coast, Carney hinted at progress on that front in the near future, while assuring the audience during a recent address in Toronto.
Conservative Leader Pierre Poilievre, who expressed skepticism towards Carney’s budget and project delivery commitments, criticized the establishment of a new government department to address hurdles in resource project development. Poilievre questioned Carney’s ability to oversee the successful completion of projects such as building an oil pipeline within his tenure.