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Major economic projects create jobs and spur development across Canada. In 2010, natural resource sectors employed over 760,000 workers in communities throughout the country. In the next 10 years, more than 500 major economic projects representing $500 billion in new investments are planned across Canada.
Yet those who wish to invest in our resources have been facing an increasingly complicated web of rules and bureaucratic reviews that have grown over time, adding costs and delays that can deter investors and undermine the economic viability of major projects.
The Government recognizes that the existing system needs comprehensive reform. The Government will bring forward legislation to implement system-wide improvements to achieve the goal of “one project, one review” in a clearly defined time period.
Economic Action Plan 2012 proposes to streamline the review process for major economic projects, support consultation with Aboriginal peoples, and strengthen pipeline and marine safety. The Economic Action Plan proposes investments totalling $165 million over two years for responsible resource development that creates jobs while protecting the environment. This includes:
- Streamline the review process for major economic projects by reducing duplication and red-tape, and focus resources on large projects where the potential environmental impacts are the greatest.
- Fixed beginning-to-end timelines for major economic projects:
- Panel Reviews: 24 months
- NEB Hearings: 18 months
- Standard environmental assessments: 12 months.
- $54 million over two years to renew the Major Projects Management Office initiative to support effective project approvals.
- $13.6 million over two years to support consultations with Aboriginal peoples to ensure that their rights and interests are respected.
- $35.7 million over two years to support responsible energy development. This includes:
- New regulations which will enhance the existing tanker inspection regime by strengthening vessel inspection requirements.
- Improved navigational products, such as updated charts for shipping routes.
- Appropriate legislative and regulatory frameworks related to oil spills, and emergency preparedness and response.
- A review of handling processes for oil products by an independent international panel of tanker safety experts.
- Research to improve our scientific knowledge and understanding of marine pollution risks, and to manage the impacts on marine resources, habitats and users in the event of a marine pollution incident.
- $13.5 million over two years to strengthen pipeline safety.
- Extension of the temporary 15-per-cent Mineral Exploration Tax Credit for flow-through share investors for an additional year.
- Date Modified: