Issues to Watch 2026 – Who Will Lead on the Economy

This year British Columbians will go to the polls to elect their municipal leaders across their cities, towns, and villages. However, given that we have minority parliaments in Victoria and Ottawa, it is possible that we could be headed to the polls multiple times in 2026.

B.C. is facing myriad challenges including a grim fiscal outlook, slower growth due to the trade war with the U.S, and uncertainty over private property rights. Political leadership is critical, in collaboration with business leaders, to set B.C. on a better path. 

Lay of the land 

The scale and complexity of today’s economic pressures are hard to overstate. Managing a volatile U.S. administration, renegotiating CUSMA, and diversifying our trading partners all require governments to move quickly, align priorities, and deliver results across multiple portfolios at once. This creates a high bar for economic leadership.

It is essential that ministers not only have deep knowledge of their files, but that they work in lockstep; the public service is empowered to execute with urgency, and the private sector is treated as a partner rather than a stakeholder on the sidelines. This level of coordination is what enables timely reform and, ultimately, a more resilient and competitive economy, and it should be a priority for all levels of government.

Keeping our eyes on the ball 

When our governments focus on action and results, they can achieve great things. Over the last few months, we’ve seen the signing of the Canadian Mutual Recognition Agreement which will beckon forward a new era of interprovincial trade, but significant work remains. Governments across Canada must not stop now. Food, wine and certifications must be included to make Canada a true free trade jurisdiction that increases competition and lower prices for Canadians.

We saw the B.C. government finally release an industrial strategy, and while it was promising to see clear goals, many of these were long-term.  The true measure of success will not be the strategy itself. It will be in the results delivered, the value for money achieved, and the effectiveness of implementation. 

Federally, the Memorandum of Understanding (MOU) between Alberta and Canada has signalled a new era of cooperation and a shift in how the federal government views energy development considering the need for energy security and trade diversification. Prime Minister Carney has set a goal of doubling Canada’s non-U.S. trade which beyond major projects also requires a focus on building up our trade-enabling infrastructure.

Looking for action 

Together with partners in the B.C. business community, we recently sent Premier Eby a joint letter calling on the government to use Budget 2026 as an opportunity to rebuild business confidence and strengthen the province’s investment climate. Our recommendations are squarely within provincial jurisdiction and focused on near-term action.

Looking ahead, the Greater Vancouver Board of Trade will be launching a municipal election strategy, recognizing the important role local governments play in enabling housing, infrastructure, and economic growth.

There are significant headwinds ahead in 2026 and many of our economic challenges are hinging on policy decisions across all levels of government. We will remain engaged, advocating for clear decisions and tangible outcomes that improve British Columbia’s economy and ensure the province remains competitive for investment, talent, and trade.