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Investing.com -- Prime Minister Mark Carney’s landmark "nation-building" projects bill passed the Senate on Thursday, granting the federal government new powers to expedite initiatives aimed at boosting the economy amid ongoing trade tensions with the United States.
Bill C-5 moved through Parliament at an unprecedented pace, taking just three weeks from its introduction in the House of Commons to Senate approval. The legislation received support from both Liberal and Conservative MPs, along with senators across the political spectrum.
The new law allows Carney’s cabinet to streamline approvals for certain projects by bypassing provisions of federal laws, including the Impact Assessment Act, which has faced criticism for delaying project approvals.
While the bill doesn’t specify which projects will be fast-tracked, Carney has indicated it could be used to approve new energy corridors in eastern and western Canada, including potential pipelines and electricity grids, as well as port expansions, mines, and other resource initiatives.
The legislation states the government will recognize and respect Indigenous Peoples’ constitutional rights when considering projects for expedited approval. However, some senators opposed the bill, primarily citing concerns about Indigenous rights. Several proposed amendments were ultimately voted down.
Some Indigenous leaders have expressed concerns that the consultation process with First Nations, Métis, and Inuit communities might be inadequate, especially given Carney’s campaign promise to make final decisions within a two-year timeframe.
The bill was expected to receive royal assent on Thursday night, officially becoming law.