Our regulatory system is one of the biggest impediments to strong economic growth in Canada. The current review system is a maze of rules and reviews that have been introduced piecemeal throughout the years. The result has been delays and the review of thousands of minor projects that have little to no environmental effect, such as a temporary hockey rink and farmers that are unable to drain their flooded fields. These reviews all take resources to usher them through the regulatory system.
We need to focus our regulatory system on the projects that matter – the major projects that may have environmental impacts and need to be studied. Our proposed changes will do precisely this while also ensuring the protection of the environment. In addition to streamlining the system, we are putting additional resources towards ensuring the environment is protected, such as increasing the number of pipeline inspections and introducing new guidelines for tanker traffic off Canada’s coasts.
We need to reform our system. There is over $500 billion in potential investment over the next 10 years in our resource sector. This is the equivalent of a company the size of Apple relocating to Canada every two years.
In Alberta, companies are looking at investing $134 billion over the next ten years. Whether that is the Northern Gateway Pipeline or the Alberta Clipper Pipeline, these projects will create jobs in Alberta and across Canada.
This investment will create hundreds of thousands of jobs and economic growth across Canada. From manufacturing to the service sector to the financial sector – every sector of Canada’s economy has something to gain from resource development. For example, the Canadian Manufacturers and Exporters say that “We often think of energy and resource developments in remote terms - geographically removed from the lives of most Canadians. The fact is that all Canadians stand to benefit in very real ways from the wealth created by these developments."
While this investment will help create hundreds of thousands of jobs across Canada, it is not guaranteed. We cannot sit idly by and expect these companies to invest in Canada. We must put in place the conditions necessary to attract these job-creating projects. This is precisely what our Government’s Responsible Resource Development plan will do. Ensure major resource projects aren’t bogged down by the regulatory system and that one project receives only one review in a clearly defined timeframe.
For more information on this and other parts of our Conservative Government’s Economic Action Plan please visit www.actionplan.ca.