Dare to build, again: 10 big ideas for a better Canada in 2026

All three funds should be independently governed with simple and clear mandates, with no payouts for the first decade. With disciplined investment and a conservative 2 percent annual payout rule paid directly to individuals, an Indigenous Resource Fund could, over a 50-year horizon, support annual distributions of up to $25,000 dollars per Indigenous person in today’s dollars without depleting capital. All Canadians would get payouts from provincial and national funds. This is a clean, truly generational fix that benefits people directly and aligns everyone’s incentives toward responsible resource development. 4. Use the Major Projects Office to fix rules, not pick winners Canada increasingly governs major infrastructure by exception. The Major Projects Office exists because regulatory systems are designed to say no, forcing governments to intervene politically to advance priority projects. That approach is fragile. When exemptions are granted case by case, approvals depend on gaining political attention rather than clear rules. Over time, access and influence begin to matter as much as merit. You begin to encourage rent seeking. If a project can proceed safely with an exemption, the rule is the problem, not the project. Any exemption granted should automatically apply to all similar projects meeting the same conditions and should trigger a review of the regulation that made it necessary. Used properly, the Major Projects Office could drive regulatory reform rather than case-by-case discretionary approvals by converting ad hoc workarounds into generally applicable standards that lower risk and cost for everyone. 5. Reform building and fire codes to create beautiful, affordable cities Ontario’s building code contains a poorly understood breakpoint. Once a residential building exceeds three storeys, it is treated as a high-rise. That single step triggers dramatically higher costs regardless of actual risk. The result is perverse. Four- to eight-storey buildings, which produce the best urban form, become uneconomic. Development either stays very small or jumps straight to towers, even in suburban settings where they really shouldn’t make economic sense (for example, in Oakville). Through Bill 60, Ontario is reviewing its building code line by line. The province should introduce a dedicated mid-rise pathway, roughly four to 10 storeys, allowing modern fire-resistant construction, European elevators, and appropriately designed single stair buildings. This would lower costs, improve design outcomes, and allow cities to grow in ways that are more beautiful and affordable. 6. Let foreign banks compete here Canada’s banking system is stable, but unusually concentrated. Six banks hold roughly 90 percent of total assets, and that concentration is most constraining in commercial and small business lending, where competition matters most for firms trying to grow. Canadian banks also earn relatively high lending and deposit spreads compared with many advanced-economy peers, reflecting pricing power in a protected domestic market. Higher margins are not inherently bad, but in a concentrated system, they translate into higher credit costs for growing firms and fewer alternatives as businesses try to scale from small to medium size. In the United States, a diversified ecosystem of community and regional banks competes aggressively for commercial and small business clients, supporting investment, hiring, and expansion. Canada has no comparable system. Foreign banks are permitted to operate here, but regulatory structures limit their ability to compete at scale, leaving most confined to niche or wholesale roles. Greater competition does not require weaker regulation. A tiered regime allowing well-capitalized foreign banks to compete more fully in retail, commercial, and small business lending would strengthen growth while incentivizing investment and healthy competition. 7. Build a military-led education and skills pathway starting at age 13 Canada needs to increase defence spending, but money alone will not rebuild our military. Defence should also be a tool for developing people earlier and at scale, and for rebuilding confidence in public service. A voluntary, military-led education pathway beginning around age 13  and built around high-quality boarding academies would offer families a structured, high-expectation option within the public system. These would not be compulsory schools, but serious institutions for families who want them. The academies themselves should matter: beautifully designed campuses in traditional Canadian architectural styles, built to signal permanence, pride, and civic ambition. Alongside strong academics, students would be exposed to leadership, physical training, engineering, logistics, cyber, applied sciences, and skilled trades. The pathway should continue through post-secondary education with service commitments, creating healthy, respected pipelines not only into the military, but into the broader public service. Done well, this would strengthen defence, address skills shortages, and rebuild a culture of service across the state. 8. Allow European standard products in Canada Canada makes itself more expensive and less competitive by refusing products that are already legal, safe, and widely used in peer economies. From cars to building components to elevators, uniquely Canadian or North American standards restrict choice and raise costs, often without clear safety justification. This is not just a consumer issue. It is a trade and industrial policy failure. When Canadian rules diverge unnecessarily from European ones, manufacturers cannot easily produce a single product for both markets. Even without tariffs, regulatory incompatibility becomes a real barrier to trade. If Canada is serious about diversifying beyond the U.S. market, regulatory alignment matters. Canadian manufacturers should have the choice to build once to sell domestically and in Europe, including automakers. A confident trading nation defaults to mutual recognition. If a product meets the standards of trusted jurisdictions like the EU, the U.K., or Japan, it should be presumed acceptable in Canada unless there is a clear, evidence-based reason not to. 9. Fix how we build infrastructure, or fall behind Canada’s infrastructure costs are now multiples of what peer countries pay. Subways, rail lines, and major projects are becoming unaffordable. The problem is not safety or ambition. It is procurement and delivery. Canada relies on bespoke consortiums and public private partnerships that repeatedly price risk, turning each project into a custom financial product. Other countries treat infrastructure as a continuous public system. They standardize designs, retain expertise, and manage risk across portfolios. Costs fall because teams learn and repeat best practices. Until governments confront how infrastructure is delivered, not just what is announced, Canadians will continue paying more to get less. 10. Reset federal-provincial relations around accountability Roughly 20 percent of federal spending flows to provinces, territories, and municipalities through transfers and grants. Yet accountability is blurred. When outcomes are poor, governments point at one another. Canada works best when responsibilities are clear. Provinces should fully own health care, education, and service delivery, and that ownership must include fiscal responsibility. The cleanest fix is a shift from conditional transfers to tax point transfers. Ottawa should vacate defined tax room, allowing provinces to raise revenue directly and answer directly to voters on areas of provincial jurisdiction. In return, the federal government should focus on what only it can do well: defence, trade, borders, immigration, interprovincial infrastructure, and enforcing a true internal common market.