TD Economics counts $1 trillion in Canadian projects queued for the next decade
The report lists Wind West, the Peace River nuclear power project, the Alberta-British Columbia oil pipeline, modernisation of the North American Aerospace Defence Command (NORAD), and 86 mining projects among the proposals behind those figures.
More than $190bn of the spending falls within the bank’s two-year forecast window, TD Economics estimates, with more than $500bn arriving over three to ten years and $270bn beyond a decade.
“Nibbling around the edges of past policies is unlikely to do the trick,” wrote Beata Caranci, senior vice president and chief economist at TD, and Derek Burleton, deputy chief economist.
They identified four fronts for action:
- Lowering the regulatory wall for major projects
- Fixing tax disincentives
- Creating an environment where firms can scale
- Expanding skilled labour capacity
Non-residential investment reaches $1,076bn by 2035 in the high scenario, the report projects, against $786bn if only the announced projects proceed and $729bn in the baseline, from a common 2025 starting point of $497bn.
