Another report calls out red tape in Canada’s resource sector

Canada’s slow and complicated project approval process needs an overhaul to reverse declining investment in mining and other major infrastructure projects, a […]
Overhead view of one of Canada’s newest gold mines, the Greenstone gold project in Ontario. (Image courtesy of Equinox Gold.)

Canada's slow and complicated project approval process needs an overhaul to reverse declining investment in mining and other major infrastructure projects, a report from the C.D. Howe Institute suggests.

The bipartisan think tank noted in its report, Smoothing the path: How Canada can make faster major-project decisions, that long timelines for major project approvals of up to 10 years scare away investors and delay projects. Charles DeLand, associate director of research at the institute and lead author, wrote that jurisdictional overlap among various government levels and high regulatory costs further weigh on productivity and competitiveness. Established in 1958, the institute aims to raise living standards by fostering economically sound public policies.

"The complexity and uncertainty of Canada's current regulatory framework are major barriers to investment,” DeLand said in the report. “Streamlining these processes is essential for economic growth and competitiveness."

The report is the second released this month to critique Canada’s regulatory regime. The other report, from PwC, focused on B.C.

Stringent environmental regulations and the need for thorough Indigenous consultations also complicate and delay investment decisions, DeLand said.

Comments

Your email address will not be published. Required fields are marked *

Jul 15 2024 - Jul 16 2024
Jul 17 2024 - Jul 18 2024
Jul 22 2024 - Jul 23 2024
Jul 29 2024 - Jul 30 2024