Canadian Politicians Promise Faster Project Approvals Ahead Of April 28 Elections

As Canada's April 28 federal election nears, both leading candidates for the next Prime Minister, Liberal Party leader Mark Carney and Conservative leader Pierre Poilevre, are campaigning on promises to fast-track commodity projects of national interest.

Speaking at a campaign stop in Calgary, Carney vowed to transform Canada into" the world's leading energy superpower, "highlighting a strategy based on energy security, trade diversification, and long-term competitiveness.

"We are going to aggressively develop projects that are in the national interest in order to protect Canada's energy security, diversify our trade, and enhance our long-term competitiveness — all while reducing emissions," he said in a statement.

Carney's platform includes forming a Major Federal Projects Office and centralizing large-scale infrastructure and energy development oversight. The office would operate under a "one project, one review "model to eliminate duplication in environmental assessments between federal and provincial governments, delivering decisions within two years.

He also proposed a C$5 billion ($3.55 billion) Trade Diversification Corridor Fund to improve infrastructure and access to export markets and expanded tax credits for critical minerals exploration.

Meanwhile, Conservative leader Poilievre has framed the past decade under Liberal leadership as a period of economic stagnation.

"After the Lost Liberal decade, Canada is poorer, weaker, and more dependent on the United States than ever before, especially as a market for our natural resources," he said in a statement.

He blamed excessive regulations for stifling investment and, if elected, has vowed to approve 10 stalled projects immediately, including Suncor's SU Base Mine Extension and LNG Canada's Phase II expansion.

Poilievre's "One-and-Done" policy would create a Rapid Resource Project Office to consolidate federal and provincial approvals under a single authority. He promised one application process, one environmental review, and a strict one-year deadline for decisions—with a target of six months. Additionally, he has pledged to repeal Bill C-69, which critics call the "No Pipelines Law," and lift Ottawa's emissions cap on oil and gas production.

Regardless of the election's victor, both leading candidates believe that natural resources are essential to Canada's economic sovereignty and a key defense against President Donald Trump's aggressive trade policies. CBC News polls currently have Carney in the lead at 44%, while Poilievre trails at 37.2%.

The 2025 uncertainty has already influenced Canada's investment climate, as domestically-listed firms raised just $2 billion in Q1, down from $2.9 billion in the same period last year, per Bloomberg.

"Whatever thesis you have for making your investment today could be very different from a month, an hour, a year from now," said Grant Kernaghan, CEO of Citigroup Global Markets Canada. "This is not, for the most part, a positive backdrop just because there's too much volatility."

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