The C.D. Howe Institute says Bill C-69 – aimed at revamping the approval process for the natural resources sector – will further depress a sector that struggled for investment in 2018. Projects will be delayed and exposed needlessly to political risk.
Between 2017 and 2018, the planned investment value of major resource projects fell $100 billion, according to the Institute. The plunge is equivalent to 4.5% of Canada’s gross domestic product.
The new report has several recommendations for the federal government:
Details are available in the 48-page report, “A Crisis of Our Own Making: Prospects for Major Natural Resource Projects in Canada,” co-authored by Grant Bishop and Grant Sprague and available to download by clicking here.
This story first appeared in the Canadian Mining Journal.