Here below is Senator Loffreda’s column. In this article, he writes about Canada’s ability to unite and build major nation-building, infrastructure projects to strengthen our long-term prosperity, resilience, and economic sovereignty.
OTTAWA – Legislation alone does not build nations. People do. Institutions do. Trust does.
One year after Parliament adopted Bill C-5 — the One Canadian Economy Act — the question is no longer whether Canada has projects to build. The question is whether we are prepared to build them, and whether we can come together to advance projects that strengthen our long-term prosperity, resilience and economic sovereignty.
With the One Canadian Economy Act, Parliament gave the federal government a mandate to accelerate the responsible development of major projects deemed to be in the national interest — projects intended to diversify trade, strengthen strategic industries and create high-paying, family-supporting jobs.
Since the legislation’s adoption, the Major Projects Office (MPO) has been established, and an ambitious list of 15 projects has emerged. Among them are Canada Nickel’s Crawford Project in Timmins, the Contrecoeur Container Terminal Project in Montréal, Nouveau Monde Graphite’s Matawinie Mine in Québec, the Toronto–Québec City Alto high-speed rail corridor, and liquified natural gas projects on the West Coast.
These projects span regions and sectors, but they are connected by a broader objective: positioning Canada to compete in a rapidly changing global economy.
The federal government has also identified seven broader transformative strategies that could reshape parts of the Canadian economy. Through the MPO, governments, Indigenous communities, industry leaders and regional partners are being brought together to coordinate efforts, identify barriers and explore opportunities for collaboration.
According to federal estimates, the 22 projects and transformative strategies represent more than $126 billion in investment, could create 60,000 jobs and may attract hundreds of billions more in private-sector capital.
Those are significant numbers. But announcements, approvals and press conferences alone will not determine success. Canada still faces a fundamental execution challenge.
We need shovels in the ground, but we also need the skilled workers, engineers, tradespeople, supply chains and supporting infrastructure required to deliver projects efficiently and competitively. Just as importantly, we need policy stability and regulatory predictability.
Investors, pension funds and project proponents consistently point to the same requirements: certainty, clarity and timelines. Without them, projects stall, costs rise, investments move elsewhere, and confidence erodes.
This has been a recurring theme in testimony before the Senate Committee on Banking, Commerce and the Economy. One recent witness summarized the challenge this way: “Canada’s challenge is not ambition; it is capital formation and, more importantly, confidence: confidence in Canadian entrepreneurs, confidence in domestic ownership, and confidence that we are willing to back our companies for the long term.” The federal government appears increasingly aware of these concerns.
Its recent discussion paper on regulatory reform – published earlier this month – acknowledged that major projects in Canada often face overlapping assessments, duplicative processes and approval timelines that discourage investment and delay construction. The government has signalled its intention to simplify procedures, reduce duplication and improve coordination among decision-makers while maintaining environmental protections and respecting Indigenous rights.
That balance matters, which is why the government is currently seeking feedback from stakeholders, particularly Indigenous Peoples.
Economic growth cannot come at the expense of meaningful consultation or environmental stewardship. At the same time, Canada cannot afford a system where projects of national significance remain tied up in uncertainty while competitor nations move ahead more decisively.
If Canada gets this right, the benefits could extend far beyond the projects themselves.
A more efficient project environment would not only unlock investment; it could also help address one of Canada’s most persistent economic weaknesses: lagging productivity growth. Productivity may sound abstract, but its effects are tangible: stronger wage growth, greater competitiveness, increased government revenues and a higher standard of living.
That is why this moment matters.
Canada possesses many of the advantages other countries are seeking: abundant natural resources, political stability, strong financial institutions, and world-class talent. But advantages alone are not enough. The ability to execute — responsibly, efficiently and competitively — will determine whether Canada can fully capitalize on this opportunity.
Bill C-5 was an important starting point because it signalled a broader shift in mindset: from studying projects indefinitely to building them strategically. Now, attention is turning to the next phase. The federal government has indicated that additional legislation aimed at modernizing regulatory and permitting processes could follow later this year. If done thoughtfully, and with the appropriate parliamentary review and oversight, these reforms could help create a more predictable investment climate while preserving the safeguards Canadians value.
The challenge ahead is not choosing between economic growth, environmental stewardship and responsible governance. It is proving that Canada can achieve all three — and in doing so, build a stronger, more productive and more competitive economy for future generations.
The Honourable Tony Loffreda
Independent Canadian Senator (Québec)
