As the Canadian economy looks to navigate the ongoing trade dispute with our southern neighbours, Prime Minister Carney’s federal government has undertaken a nation-building initiative, the Building Canada Act, that aims not just to provide a short-term boost to the Canadian economy amid a trade dispute but to ensure Canada’s competitiveness in the global economy moving forward.
So, what exactly is it and what does a focus on projects (like LNG facilities or mineral mines) mean for young Canadians and our economy alike?
Passed by Parliament in June 2025, the Building Canada Act provides the framework via which the federal government will be more efficient and capable of developing infrastructure projects in the country’s national interest.
These nationally important projects could take the form of “ports, railways, energy corridors, critical mineral developments, and clean energy initiatives,” and will be able to be essentially “fast-tracked” to completion.
This process hinges on the involvement of the newly established Major Projects Office (MPO). The MPO not only helps discern which projects are worth pursuing under the Act, but it also “streamlines” project approvals and regulatory processes, works to attract capital, and coordinates financing from all sectors of the economy.
Canadian nation building efforts have, in the recent past, been bogged down by very costly regulatory requirements.
While also fixing this problem, the Building Canada Act is designed to develop a resilient Canadian economy that doesn’t rely as heavily on the US. In times of tense trade relations, this decisive policymaking helps the Canadian economy better sustain itself and grow in the global market.
Regulatory issues seem to have been identified as the thorn in Canada’s side that has curtailed the ability to draw global investment and make timely, meaningful change to bolster our domestic economy. The federal government has recognized the necessity of taking action to keep up with the rapid pace of the global economy and to protect ourselves from any shifts in global relations and trade policy.
But, even with the emphasis on rapid development, the Building Canada Act still takes great account of Indigenous interests.
Whether it be the consultation and representation of Indigenous peoples in the development process or the huge benefits that projects can carry for indigenous communities, the Building Canada Act notes the importance of indigenous interests while expediting projects. Opportunity for Indigenous equity ownership (for example in the Cedar LNG project), working in tandem with the Indigenous Advisory Council, and expanding or providing funding to other Indigenous programs are just some examples of benefits and positives that this initiative can hold for Indigenous Peoples.
The message that the Building Canada Act sends not just to US decision-makers but to young Canadians is one of resilience, togetherness, and forward-thinking.
Provinces like British Columbia (Bill 15) and Ontario (Bill 5) have both enacted bills to bolster infrastructure in the face of trade disputes, and these are but two examples of the loftier shift in the Canadian economic mentality that the Building Canada Act endorses.
Canada-wide, the act marks a shift towards an economy that understands the importance of projects and infrastructure. It intends to efficiently and effectively invest in the future via infrastructure that enables long-term environmental sustainability, economic growth, and national security.
While the Building Canada Act and equivalent provincial statutes are welcome first steps, Canada still needs a full regulatory overhaul—one that gives every project, large or small, a fair and timely chance to succeed rather than limiting progress to the few that government happens to favour.
That said, the government’s desire to protect and create opportunities for young Canadians by developing and investing in crucial sectors like energy and critical minerals is exciting and gives me hope for a prosperous future.
Whether or not you’re directly involved with these nation-building projects, it’s clear that the Building Canada Act is a compelling step in the right direction for building a dynamic, modern, and strong economy that serves to help young Canadians.
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