Canada at a crossroads: Business leaders urge bold action on competitiveness, innovation, economic growth
As Canadians head to the polls in a pivotal election campaign, business leaders are calling on political parties to move beyond promises and toward action. With economic uncertainty mounting — from global trade tensions to infrastructure bottlenecks — these leaders want clear commitments on internal trade, energy security, innovation, and regulatory reform. Their message is unified: Canada has the tools to lead, but the next government must be ready to build, listen, and act — starting on day one.
Canadians head to the polls on April 28. / UNSPLASH PHOTO
As Canada braces for a pivotal federal election, business and industry leaders across the country are calling on political hopefuls to deliver more than promises — they want urgency, unity, and action.
Ahead of the leadership debates, Means & Ways reached out to some business leaders to ask what they are looking for and hoping to hear from party leaders.
For Candace Laing, Canadian Chamber of Commerce President and CEO, the debates are more than just political theatre — they’re a litmus test for leadership. “A debate is a time to highlight differences, but frankly this is a moment where we need unity. We need all parties to be focused on never letting Canada be this vulnerable during a trade disruption again,” she told Means & Ways.
That vulnerability — laid bare by recent trade aggressions and sovereignty threats from the U.S. as well as growing global uncertainty — has galvanized calls for a rethink on how Canada builds, trades, and competes.
“We hope to hear leaders put timelines on some of their promises. The situation our businesses, our economy and our global economic system are facing is urgent. Whichever party becomes the next government must be ready for prime time and ready to deliver quickly,” Laing said. “We also hope to hear that they’ll actually listen to businesses of all sizes. It’s businesses that have filled the need for leadership in recent months, defending jobs, investments, and the interests of workers. Through durable relationships, businesses are well-placed to bring these political leaders up to speed on how we can make Canada more economically secure and resilient.”
Derek Nighbor, Forest Products Association of Canada President and CEO, wants to hear about how the next government will build Canada. “We often frame economic growth as something that happens to us — or doesn’t. But it’s also something we can build, if we choose to. I’d like to hear leaders talk seriously about how to make it easier to build: homes, projects, industries,” he said.
“Canadians want progress they can see; more homes going up, more jobs in their communities, and a stronger economy rooted in sustainability and practical action.”
For Nighbor, the forestry sector is a practical, ready-made solution that needs the political will to scale. He called for an end to “managing decline” in sectors like forestry.
“Global wood demand is forecasted to increase by nearly 50%. What we need is the political will to build the path forward,” he said. “Canada has the opportunity to lead globally on clean, renewable materials and low-carbon construction. But leadership won’t come from complexity and the way we’ve been doing things the past few years — it will come from greater operating certainty, policy and regulatory coherence, and a commitment to enabling innovation where it’s already taking root.”
Unleashing Canada’s potential
Lisa Raitt, Vice-Chair, Global Investment Banking at CIBC Capital Markets, didn’t mince words. She said she wants to hear a clear signal that Ottawa won’t get in the way of major resource projects, particularly those led in partnership with provinces and Indigenous communities.
“I would pick a major project and invite proponents, Indigenous communities and premiers to a meeting with federal officials ... and not let anyone out until we had agreement,” she said.
Her vision includes amending the Impact Assessment Act and restoring streamlined project management offices.
Nighbor agreed that coordinated policies that reduce duplication, for example on permits and similar provincial and federal regulations, is essential to economic growth.
“Innovation doesn’t always look like a lab or a launchpad — in forestry it can range from a pulp mill producing energy from biomass to a 4 to 6 storey apartment being built with carbon-storing, grown and made in Canada wood products. These aren’t future possibilities, but rather practical solutions happening today,” he said. “Expanding access to Clean Investment Tax Credits is one simple step. Recognizing the carbon value of managed forests is another. These actions can attract investment, drive rural job creation, and support the resiliency of our forests.”
Bob Larocque, Canadian Fuels Association President and CEO, echoed the need for clarity and direction, particularly around energy and supply chain resilience. “With energy security front and centre in this election due to Trump’s tariff battle, now more than ever is the time for Canada to invest in Canadian biofuels production to reduce our reliance on growing U.S. imports and to grow jobs in Canada,” he said.
Larocque also called for expanded support for Carbon Capture Utilisation and Storage (CCUS), hydrogen, and transportation fuels.
Additionally, he said, a “stable, predictable regulatory environment” and tax incentives to attract investment are needed. “The volatile investment climate we are living in makes it more important than ever that the next federal government ‘double down’ in both these areas,” he said.
“I will look for all leaders to commit to a plan to make this happen, and to provide clarity on where current energy and environment policies stand and how they will move forward to strengthen Canada’s energy security, resiliency and production in Canada to stimulate economic growth,” Larocque said about the upcoming debates.
Laing pointed out that “incremental changes won’t cut it at this pivotal moment.” She said it’s time to take action to eliminate internal trade barriers so that there is “a truly open, unobstructed, national Canadian market.”
Additionally, she said the government’s response to competing against the U.S. needs to include “regulatory and tax systems that promote innovation and competition, bringing businesses to Canada instead of driving them away.”
Expanding trade routes overseas and existing transportation infrastructure is key to expanding Canada’s full economic potential, she said. “Canada is a trading nation. However, if we can’t move it, we can’t sell it,” she said. “If we make these changes, we will see innovation, business success, economic sovereignty and a better life for all.”
Canada can’t afford to be complacent
Across sectors, there's a shared sense that Canada can’t afford to be complacent. Whether it’s tearing down internal trade barriers, fast-tracking housing and infrastructure, or investing in rural and Indigenous communities, the message is clear: the time for action is now.
“Canada has the opportunity to lead globally on clean, renewable materials and low-carbon construction. But leadership won’t come from complexity and the way we’ve been doing things the past few years — it will come from greater operating certainty, policy and regulatory coherence, and a commitment to enabling innovation where it’s already taking root,” Nighbor said.
As Laing noted: “Canada has all we need to get through this rough patch. … We cannot waste a single moment when making Canada less vulnerable to what happens south of the border.”
We asked:
If you were prime minister for a day, what action would you take to grow Canada’s economy?
CANDACE LAING, CANADIAN CHAMBER OF COMMERCE PRESIDENT & CEO
One day is tough, but if that’s all I get – let’s get cracking. As Prime Minister I would loudly and proudly sell Canada’s value proposition on the global stage, inviting companies all over the world to make a smart move by putting their money on Canada. We are an energy superpower, an innovative force in AI development, and a highly educated source of world-class labour all at once. These are the ingredients of success that businesses the world over are looking to share in.
DEREK NIGHBOR, FOREST PRODUCTS ASSOCIATION OF CANADA PRESIDENT & CEO
I’d immediately launch a Canadian Forest Sector Action Plan: a practical blueprint to return forestry to growth in Canada.
We don’t need a blue ribbon task force – the fixes and solutions are in plain sight:
Accelerate housing construction through “Harvest to House” supply chains, making better use of Canadian wood in modular and prefabricated builds.
Support workforce development in rural and Indigenous communities, ensuring that people can thrive in the places they call home.
Strengthen wildfire resilience by empowering forest sector employees to be a bigger part of the solution through proactive thinnings and more active forest management.
Address global trade barriers and open new markets for innovative, low-carbon Canadian products—diversifying our trade and bolstering economic security.
Forestry in Canada should be in growth mode.
When we align economic, environmental, and community goals under one plan – connecting multiple federal departments under a clear vision for Canadian forestry, rooted in sustainability and growth - we can deliver real, lasting benefits for Canadians. It’s not about reinventing the economy, it’s about building on what works, and leaning into a plan that’s committed to growth for Canada.
LISA RAITT, CIBC CAPITAL MARKETS VICE-CHAIR, GLOBAL INVESTMENT BANKING
I would pick a major project and invite proponents, Indigenous communities and premiers to a meeting with federal officials, close the door and not let anyone out until we had agreement on how to get the project done on an agreed to timeline — with the promise from the federal government that if they were the cause of any delays, the feds would pay damages.
BOB LAROCQUE, CANADIAN FUELS ASSOCIATION PRESIDENT & CEO
I would strengthen our manufacturing and resource supply chains. Recent labour disruptions at ports and railways have highlighted that our supply chain infrastructure is stretched to its maximum. Our supply chains are integrated with the U.S. which in the Trump 2.0 era introduces a whole new level of vulnerability and unpredictability. In the case of transportation fuels, supply chain investments will also support new biofuels production – creating jobs throughout the fuel supply chain, from farmers to feedstock providers to refiners and biofuel facilities and on to retail. These projects are generally located in smaller or rural communities where the economic benefit is tremendous.
