The Business Council of Alberta (BCA) today welcomed several measures in the federal government’s Spring Economic Update 2026, while urging Ottawa to move quickly on reforms that will unlock the country’s investment potential and prosperity for Canadians.
“The Spring Economic Update contains measures that will help Canadians and Canadian businesses cope with the pressures they’re feeling right now,” said Adam Legge, President, Business Council of Alberta. “The government’s efforts to support skilled labour, their commitment to the Major Project Approvals office, defence procurement, and the improved fiscal position show the government is moving in the right direction. Our job now is to make sure Ottawa’s next steps are as bold and fulsome as this critical moment demands.”
With WTI oil prices averaging above Budget 2025 forecasts, Canada’s energy sector contributed to the stronger-than-expected federal fiscal results, a reminder that a thriving Alberta energy industry is good for the country’s balance sheet.
Earlier, BCA had called on the federal government to use the Spring Economic Update to take concrete action on Canada’s declining competitiveness, noting that business investment per worker has fallen 11 per cent in Canada over the past decade while rising 45 per cent in the United States over the same period.
The BCA welcomes the expansion of the Carbon Capture, Utilization and Storage investment tax credit to include enhanced oil recovery and the accelerated capital cost allowances for low-carbon LNG facilities, both of which follow through on commitments made in the Canada-Alberta Memorandum of Understanding and directly benefit Alberta’s energy sector. The BCA also commends the continued progress of the Major Projects Office, which now has 15 projects representing over $125 billion in capital investment.
On workforce, the BCA welcomed the Team Canada Strong initiative as one of the more directly relevant measures for Alberta business. At a time when many of Alberta’s sectors face a chronic and growing trades shortage, these investments could help support the labour supply needed to build and operate the projects and equipment that will be needed to generate prosperity for Canadians.
BCA notes that several of its key priorities were not addressed in the update, specifically action on major project approval and regulatory reform which are the major barriers to investment in Canada. The federal government has set a target of attracting $500 billion in private investment over five years.
According to BCA’s own research in From Barriers to Breakthroughs, reaching that target will depend on whether Canada can attract investment by providing the project approval and regulatory certainty, efficiency, and timelines that investors need.
“Prime Minister Carney wants Canada to build at a pace not seen in generations,” said Legge. “But we are regulating away investment with unclear, inefficient, and lengthy processes. The path forward is clear — establish a faster and predictable major project approvals framework, and private investment will follow.”
BCA will continue to advocate for practical, federal-level reform to the major project approval and regulatory systems to help Canada reach its investment ambitions and economic potential.
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About the Business Council of Alberta
The Business Council of Alberta is dedicated to building a better Alberta within a more dynamic Canada. Composed of more than 130 chief executives and leading entrepreneurs of the province’s largest enterprises, Council members are proud to represent the majority of Alberta’s private sector investment, job creation, exports, and research and development. The Council is committed to working with leaders and stakeholders across Alberta and Canada in proposing bold and innovative public policy solutions and initiatives that will make life better for Albertans.