For Canada to navigate a new world order, B.C. must deliver results in 2026

Opinion: Canada entered 2026 with something it has not had in years, consensus on economic growth. Consensus, however, is not success. If 2025 was about agreement, 2026 must be about results.

By Bridgitte Anderson, GVBOT President & CEO

For decades, Canada prospered in a rules-based global order. Stable trade relationships, predictable markets, and reliable allies allowed us to grow, invest, and steadily improve living standards. But that order is fraying. Trade is increasingly weaponized, alliances are strained, and economic strength is now inseparable from national security. Over the past 12 months, Canadian policymakers have reached a rare consensus; that economic growth is a necessary condition for improving affordability, sustaining public services, and protecting Canada’s place in a more volatile world. Consensus, however, is not success. If 2025 was about agreement, 2026 must be about results.

We launched our Agenda for Economic Growth in January 2025 calling on the provincial government to commit to 3 per cent annual real GDP growth to anchor policy decisions to measurable outcomes, generating up to $4.0 billion in additional government revenues for critical social services like healthcare, education, and public safety. Days after our launch, President Trump began his trade war. The global environment has only grown more unstable since, and the cost of delay has risen. British Columbia sits at the centre of Canada’s economic response, as a gateway to global markets and a supplier of what the world increasingly needs – energy, critical minerals, and food. The question for 2026 is if the Province is prepared to match its growth rhetoric with delivery.

To be fair, over the past year, important groundwork was laid. Major project legislation signalled a renewed willingness to compete for investment. British Columbia helped advance the Canadian Mutual Recognition Agreement, a meaningful leap forward for trade within Canada. Prime Minister Carney set a national goal of doubling Canada’s non-U.S. trade over the next decade. Ottawa and Alberta reached a new understanding on energy development, reflecting the growing importance of energy security and trade diversification. The Province also finally released their industrial strategy, with clear, if long-term objectives.

These are necessary steps, but strategies, memoranda, and legislation will not grow the economy on their own. Results will be measured in permits issued, projects built, capital invested, and jobs created. So, what would delivery look like in 2026?

We can start by removing a major roadblock to local food processing by removing the restrictive "50-50" food processing rule, which has pushed investment out of the province. Estimates suggest removing it could unlock $1 billion in investment, create jobs, increase farmer incomes, reduce reliance on the United States, and strengthen food security quickly, while supporting B.C.'s own export diversification goals.

Simultaneously, approving and accelerating mainline optimization and Burrard Inlet dredging so the Trans Mountain Expansion pipeline can operate at its full potential – delivering an extra 360,000 barrels a day. B.C. should also help land a positive final investment decision for LNG Canada Phase 2, supplied primarily by high-quality B.C. natural gas from the Montney formation. Done right, this would build a substantial new industry, with capital investment approaching $100 billion and export capacity of 50 MTPA by 2030.

Competitiveness also matters at home. British Columbia currently has the highest marginal effective tax rate on new capital investment in Canada, hampering local growth. As Budget 2026 approaches,the Board of Trade is calling on the Government to reinstate the PST exemption on machinery and equipment that was removed in 2022. This would lower the cost of new purchases by approximately 5.5 per cent, bringing us closer in line to other competitive jurisdictions, like Alberta.

If trade diversification is a priority, we need to help more small businesses ‘go global’. That takes new skills, better support, and a determination to win new customers for British Columbians. Programs such as our Trade Accelerator Program have, on average, increased participants’ export revenues by 23 per cent, with export sales forecasted to grow by 47 per cent. Reliable, sustainable funding for programs like these is one of the most practical ways to diversify trade, grow the local economy, and use taxpayer dollars effectively.

Underneath all these priorities is a common constraint: permitting and regulation. Our systems must improve substantially across housing, data centres, mines, and industrial land if we want to compete. A country that cannot attract investment, build major projects, or expand productive capacity cannot protect its sovereignty, fund public services, or secure its place in a rapidly shifting global economy.

Managing an unpredictable U.S. administration, diversifying trade, and growing our economy require governments to align priorities and deliver across multiple portfolios at once. Canada’s advantage lies in what the world increasingly needs most, energy, food, and critical minerals; British Columbia is the gateway to supplying all three. 

But potential is not leadership. Economic growth is now a national security imperative. The consensus has been reached. The strategies have been written. In 2026, British Columbia must prove it can deliver results.

This op-ed was orginially published in the Vancouver Sun.