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An Act to enact the Free Trade and Labour Mobility in Canada Act and the Building Canada Act
Short title: One Canadian Economy Act
Bill Type: House Government Bill
Bill Sponsor: President of the King's Privy Council for Canada and Minister Responsible for Canada-US Trade, Intergovernmental Affairs, Internal Trade and One Canadian Economy
This Bill received Royal Assent on Thursday, June 26, 2025
BILL C-5 — SUMMARY One Canadian Economy Act
Bill C-5 combines two separate pieces of Legislation into a single Bill. Part 1 removes barriers to trade and labour mobility between provinces through mutual recognition of standards and credentials. Part 2 creates a fast-track federal approval process for projects Cabinet designates as nationally important. It received Royal Assent on June 26, 2025.
WHO GAINS POWER
The Governor in Council gains authority to designate any project as "nationally important" — triggering a streamlined single-document federal approval that bypasses normal regulatory timelines. The criteria for designation include economic benefits, security, Indigenous interests and climate goals — broad enough that Cabinet holds significant discretion over which projects qualify.
The federal government gains authority to override provincial regulatory differences through mutual recognition. If a good, service or credential meets one province's standard, it automatically meets the federal standard — regardless of whether other provinces have set higher requirements.
Large corporations gain national market access under a single compliance standard instead of adapting to different provincial rules in each jurisdiction where they operate.
WHO LOSES POWER
Provincial governments lose the ability to maintain standards higher than other provinces for goods, services and credentials entering their jurisdiction. A province cannot protect its own regulatory floor if another province's lower standard triggers mutual recognition.
Indigenous communities face compressed consultation timelines under the fast-track process. Mandatory consultations are required — but the streamlined approval structure reduces the time available for meaningful engagement, and projects can proceed without consent if Cabinet determines national interest overrides the outcome of consultation.
Environmental and community groups lose time for public input. Streamlined approvals reduce the window for environmental assessments, public challenges and impact reviews.
Provincial and territorial governments lose control over major projects within their own jurisdictions when Cabinet designates those projects as nationally important — federal approval overrides provincial regulatory processes.
WHO GAINS MONEY
Large corporations operating across multiple provinces reduce compliance costs — one standard replaces ten to thirteen different provincial requirements.
Resource extraction, construction and infrastructure developers gain faster project approvals. Reduced regulatory timelines lower carrying costs and uncertainty on major capital projects.
Mobile skilled workers and professionals gain credential recognition across provinces — the ability to move for work without re-certification reduces barriers to employment and increases earning options.
WHO LOSES MONEY
Local businesses in provinces with higher standards face increased competition from out-of-province operators who previously could not meet local requirements. Mutual recognition removes that barrier.
Workers in regulated professions face a larger labour pool competing for the same positions as credential recognition increases mobility — with potential downward pressure on wages in high-demand trades.
Taxpayers bear the risk if fast-tracked projects are poorly vetted and fail or cause environmental damage. Cleanup costs and liability fall on public budgets. Annual parliamentary reviews happen after designation — not before.
THE FAST-TRACK APPROVAL STRUCTURE
The Building Canada Act creates a single-document federal approval for designated projects. Key structural gaps:
- ❌ No independent body determines what qualifies as "nationally important" — Cabinet decides
- ❌ No transparency requirement for why a specific project is designated over others
- ❌ Consultation is mandatory but consent is not — projects proceed regardless of outcome
- ❌ Parliamentary oversight is reactive — reviews occur after approval, not before
- ❌ No defined timeline for how long a designation remains valid or can be challenged
WHO HOLDS THE SYSTEM ACCOUNTABLE?
- ❌ Independent review — no arm's-length body evaluates national interest designations; Cabinet decides without external check
- ❌ Indigenous consent — consultation is required but the fast-track structure compresses the time available for meaningful engagement
- ❌ Provincial governments — federal designation overrides provincial regulatory processes with no provincial veto
- ❌ Parliament — annual reviews are informational; Parliament cannot stop a project once designated
- ❌ Courts (proactively) — judicial review is available after the fact but does not pause approvals during proceedings
[Source: Bill C-5 — One Canadian Economy Act, Royal Assent June 26, 2025]