One Canadian Economy Act
The One Canadian Economy Act (Bill C-5), which received Royal Assent on June 26, 2025, is a landmark legislative package designed to unify Canada's domestic market and accelerate national infrastructure. It is considered the signature legislation of the Mark Carney government.
Part 1: Free Trade and Labour Mobility
This section aims to eliminate the "red tape" that costs the Canadian economy an estimated $200 billion annually in lost productivity.
- Mutual Recognition: Any good or service that meets the regulatory requirements of one province is now automatically recognized as meeting federal requirements for interprovincial trade.
- Labour Mobility: Professional licenses (such as for nurses, engineers, and skilled trades) from any province are now recognized federally, allowing workers to move and work coast-to-coast without re-certification.
Part 2: The Building Canada Act
This part creates a streamlined federal approval process for National Interest Projects (NIPs).
- "One Project, One Review": To end the "Why build?" era, federal approval timelines have been slashed from five years to just two years for projects deemed critical to national security or the economy.
- National Interest Projects: These include major energy pipelines, lithium/copper mines (like the "Ring of Fire"), and the construction of high-speed rail corridors.
- Indigenous Partnership: The Act mandates early and deep consultation, moving toward a model of equity ownership for Indigenous communities in major resource projects.