CONFIDENCE IN CANADA’S ECONOMY IS AT RISK

The governments of BC, Alberta and Canada need to come together and solve Canada’s economic confidence crisis

WHAT'S AT STAKE FOR OUR COUNTRY?

Trans Mountain Pipeline Expansion is no longer an issue about whether a pipeline should be built. It’s an issue of whether or not businesses – large or small, across our economy – can invest with confidence knowing the rules won’t change after the fact.

At stake is more than a pipeline project.

Family-supporting jobs and small business, billions in new tax revenues for schools and hospitals, and ultimately Canada’s global reputation as a country for safe and secure investment is at serious risk.

Confidence in Canada: News

Trans Mountain Pipeline Expansion (TMX) Project Approval

June 18, 2019 – Vancouver, B.C. – We are pleased to see the federal government’s final decision today granting approval of the Trans Mountain Pipeline Expansion (TMX) Project. After more than seven years of review, it’s time to get shovels in the ground. The government of B.C. must now respect the federal government’s decision that this project is in the national interest and must proceed without further delay.

The ongoing and unprecedented uncertainty around the TMX project led a group of over 113 business organizations, communities and leaders from across Canada to form the Confidence in Canada movement last spring. The group remains concerned as there is more than just a pipeline at stake. Uncertainty continues, fueled by the mounting regulatory burden and new legislation, including Bills C-69 and C-48. Canada is mired in process paralysis and political division, self inflicted measures that are undermining our ability to get projects built by adding cost and complexity at the expense of our country’s future prosperity and impacting families and our reputation.

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This decision will also directly impact British Columbian families whose livelihoods depend upon well-paying jobs in the construction and energy sectors. It puts at risk over 45 First Nations' ability to more fully participate in the economy and erodes collaboration across our federation on everything from the sustainable funding of transit and daycare to infrastructure development.

– Greg D’AvignonPresident and CEO of the Business Council of BC

Enough is enough. It’s time to reinforce investor confidence in Canada. Ensuring the Trans Mountain pipeline expansion project gets completed will send the right signal. If we don’t send that signal quickly we risk eroding – perhaps irreparably – our provincial and national brand as a place worth investing in.

– Val LitwinPresident and CEO, BC Chamber of Commerce

This is about more than a pipeline. This is about our national economy, the cohesiveness of our country, and the ability for us to think — and act — in the best interest of all Canadians. That’s why we are calling on the B.C. Government to ‘stand down’ on its tactics to further delay this project, and calling on the Canadian Government to ‘stand up,’ to assert that this project is in the national interest, and put a halt to the uncertainty that threatens to undermine our federation. The rest of the world is watching.

Iain BlackPresident and CEO, Greater Vancouver Board of Trade

Whether a business is big or small, it’s important to have confidence that governments at all levels will respect the laws of this country. Creating mayhem and mischief with respect to a project that has been approved is clearly at odds with this and puts our economic security at risk. It can’t be allowed to stand.

– Laura JonesExecutive Vice-President and Chief Strategic Officer of the Canadian Federation of Independent Business

To attract the investment required for mining projects, investors require certainty. Mining is a capital-intensive industry, where it can take multiple years to move a project from development to operation. A lack of investor confidence in the federal and provincial regulatory processes creates detrimental uncertainty for our industry and our ability to sustain the jobs of today and, importantly, create the opportunities of tomorrow. Regulatory predictability, consistency and coordination is absolutely paramount to the future of the BC mining industry.

– Bryan CoxPresident and CEO, Mining Association of BC

Canada’s energy sector is on its knees. Companies investing billions of dollars in our economy are vilified at nearly every turn. As a result, Canada’s energy sector is being hollowed out – Canada is losing investment, jobs and talent. Hundreds of communities, thousands of companies and the quarter-million men and women working in construction in BC will be hurt by this flagrant disregard for the rule of law – we must build this pipeline and support the jobs and opportunities that come with it.

– Chris GardnerIndependent Contractors and Businesses Association

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ASSOCIATIONS TAKING A STAND