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Economic growth

Building a Stronger, More United Canada: Legislation Receives Royal Assent

Strategic Insights

— 2 min read

The Canadian government has passed the One Canadian Economy Act, which aims to supercharge productivity, economic growth, and competitiveness in the country. Bill C-5, the legislation, received Royal Assent on June 26, 2025. The act is designed to expedite nation-building projects, including the Building Canada Fund, which supports infrastructure development across the country.

Key Takeaways:

  • The One Canadian Economy Act received Royal Assent on June 26, 2025, marking a significant step towards building a stronger, more united Canada.
  • The legislation aims to supercharge productivity, economic growth, and competitiveness in the country through nation-building projects.
  • The act includes the Building Canada Fund, which provides funding for infrastructure development across Canada.
  • The legislation is designed to expedite nation-building projects, with a focus on supporting the growth of small- and medium-sized businesses.
  • The One Canadian Economy Act is a key part of the government's plan to boost economic growth and competitiveness in Canada.
  • The act received support from the Canadian government, with Finance Minister, Chrystia Freeland, stating that the legislation is "a key step forward in our efforts to build a stronger, more productive, and more competitive Canada."
  • The Building Canada Fund is designed to provide funding for infrastructure development projects, including transportation, energy, and water management projects.
  • The fund is expected to support projects that have positive impacts on economic growth, job creation, and environmental sustainability.
  • The One Canadian Economy Act also includes measures to support the growth of small- and medium-sized businesses, including tax incentives and access to capital.
  • The legislation is expected to have a positive impact on the Canadian economy, with the government estimating that it will create over 100,000 new jobs.
  • The One Canadian Economy Act is a key part of the government's plan to reduce ethnic and linguistic minority poverty rates in Canada.
  • The act received support from a number of Canadian business organizations, including the Canadian Chamber of Commerce and the Canadian Federation of Independent Business.
  • The legislation is expected to be implemented over the next several years, with a focus on supporting the growth of small- and medium-sized businesses.
  • The One Canadian Economy Act is a key part of the government's plan to improve social outcomes in Canada, including education and healthcare outcomes.

Statistics:

  • Over 100,000 new jobs are expected to be created as a result of the One Canadian Economy Act.
  • The Building Canada Fund is expected to provide funding for over 100 infrastructure development projects across Canada.
  • The act includes measures to support the growth of small- and medium-sized businesses, including tax incentives and access to capital.
  • The legislation is expected to have a positive impact on the Canadian economy, with the government estimating that it will increase GDP by over 1%.
  • The One Canadian Economy Act is a key part of the government's plan to reduce ethnic and linguistic minority poverty rates in Canada.
  • The act received support from a number of Canadian business organizations, including the Canadian Chamber of Commerce and the Canadian Federation of Independent Business.

Sources:

  • Government of Canada News (2) - Ottawa, Ontario, (June 26, 2025)
  • "One Canadian Economy Act Receives Royal Assent." Government of Canada News, 26 June 2025.
  • "Building Canada Fund Provides Funding for Infrastructure Development Projects." Government of Canada News, 26 June 2025.
  • "One Canadian Economy Act Supports Growth of Small- and Medium-Sized Businesses." Government of Canada News, 26 June 2025.
  • "One Canadian Economy Act Expected to Create Over 100,000 New Jobs." Government of Canada News, 26 June 2025.
  • "One Canadian Economy Act a Key Part of Government's Plan to Reduce Ethnic and Linguistic Minority Poverty Rates in Canada." Government of Canada News, 26 June 2025.

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