OTTAWA, ON, June 26, 2025 /CNW/ - Today, Bill C-5, the One Canadian Economy Act, received Royal Assent. This legislation is key to building a stronger, more united Canada by supercharging productivity, economic growth, and competitiveness. 

Once implemented, the One Canadian Economy Act will:

1. Expedite nation-building projects (the Building Canada Act): Streamlining federal review and approval processes to increase regulatory certainty, helping attract capital, strengthening our industries, and moving towards greater sovereignty and resilience while protecting the environmental and respecting Indigenous rights.
2. Remove federal barriers to internal trade and labour mobility (the Free Trade and Labour Mobility in Canada Act): Accepting comparable provincial or territorial regulations, where they exist, as meeting federal requirements for the movement of goods, services, and labour within Canada. This will allow more goods, services, workers and business to move freely across provinces and territories.

With the Building Canada Act coming into force today, the federal government will immediately move forward on consultations with provinces, territories, Indigenous Peoples and private sector proponents to identify nation building projects and implement measures to streamline processes for other projects. This includes working with provinces, territories and Indigenous partners to adopt a 'one project, one review' approach to reduce duplication.

This work will be led by the Federal Major Projects Office, a new entity that will be launched in the coming weeks. The Office will include support from an Indigenous Advisory Council with First Nation, Inuit, and Métis representatives.

Indigenous partnership is a vital part of this legislation, and meaningful consultation will be key to the success of future projects. The federal government is committed to respecting the rights of Indigenous Peoples recognized and affirmed by section 35 of the Constitution Act, 1982, and to the United Nations Declaration on the Rights of Indigenous Peoples. Over the coming weeks, the Prime Minister will meet with First Nations, Inuit, and Métis rights holders, with the first meeting happening on July 17 with First Nations.

The Government of Canada is fulfilling its promise to build one Canadian economy out of 13 while upholding Indigenous rights and protecting the environment as well as the health and safety of Canadians.

Quotes

"With Bill C-5 today becoming law, we are removing trade barriers, expediting nation-building projects, and unleashing economic growth, in close cooperation with Indigenous Peoples. We will give ourselves more than any foreign nation can ever take away by building one Canadian economy – the strongest economy in the G7."

—The Rt. Hon. Mark Carney, Prime Minister of Canada

"The One Canadian Economy Act is a crucial step in our commitment to driving economic growth that benefits every Canadian. It will help attract investment in big nation-building projects that create good paying jobs, connect our country, and ultimately reduce our reliance on the United States. Together with provinces, territories and Indigenous communities, we are paving the way for a brighter future for all Canadians."

—The Honourable Dominic LeBlanc, President of the King's Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy

"Goods, services, and workers should be able to move more freely across our country. Free trade within Canada is about Canadians trusting each other. Thank you to our provinces and territories for their continued leadership, as we press ahead and work together for the benefit of all Canadians. The One Canadian Economy Act cuts red tape by removing duplication where there are comparable provincial regulations, making it easier for workers, businesses, and Canadians to work and do business across different jurisdictions. Trade within Canada is an essential driver of our economy, and removing barriers will help us build the strongest economy in the G7."

—The Honourable Chrystia Freeland, Minister of Transport and Internal Trade

"In this pivotal moment in Canada's story, it is clear that the conventional ways of doing business no longer serve us. We must act decisively to secure our future, build big things in this country once again, and cultivate the strongest economy in the G7. Our goal is clear: to make Canada an energy superpower."

— The Honourable Tim Hodgson, Minister of Energy and Natural Resources

"Together, we are building an economy that works for everyone. The One Canadian Economy Act marks a historic milestone in creating a stronger, more inclusive Canada—one where Indigenous partnership is not only valued, but is fundamental to every step of development."

— The Honourable Mandy Gull-Masty, Minister of Indigenous Services

Related Products

• Backgrounder: Implementation of Bill C-5: One Canadian Economy
• Government of Canada introduces legislation to build One Canadian Economy
• House of Commons passes One Canadian Economy Act
• Backgrounder: One Canadian Economy: An Act to enact the Free Trade and Labour Mobility in Canada Act and the Building Canada Act
• Third Reading of Bill C-5 in the House

Associated Links

• Internal Trade
• Clean Growth Office
• First Ministers' statement on building a strong Canadian economy and advancing major projects
• Prime Minister Carney meets with premiers and shares his plan to build one strong Canadian economy

SOURCE President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy