Prime Minister Mark Carney and BC Premier David Eby make joint prosperity announcement on July 2, 2026 in Vancouver. [CPAC livestream]
Thursday July 2, 2026 | VANCOUVER, BC [Posted at 12:41 pm | Updating 12:55 pm PT]
by Mary P Brooke | Island Social Trends
An announcement about prosperity in British Columbia — described as historical and generational — was made in Vancouver today by Prime Minister Mark Carney and BC Premier David Eby.
Today the Prime Minister and the Premier of British Columbia announced the new Canada-British Columbia Cooperative Prosperity Agreement in Vancouver, BC.
Prime Minister Mark Carney on July 2, 2026 in Vancouver. [livestream]
As just one indication of how important this announcement was today are the adjustments or challenges of travel plans to make this happen:
Eby cut a trade mission to China short in order to be in Vancouver for this announcement today.
Carney would have been in Edmonton yesterday ahead of this visit to Vancouver, but a severe thunderstorm kept his flight grounded in Ottawa yesterday afternoon, likely making arrival time to the west more demanding for today.
As well, today’s announcement in BC was about squeezing it in ahead of Alberta’s announcement coming up later today about their proposed oil pipeline to the BC coast.
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Prosperity in and by BC:
Both Carney and Eby today emphasized that the prosperity generated by today’s agreement is for both BC and all of Canada.
“Canada and British Columbia are focused on what we can control: building a stronger, more competitive, more sustainable economy that creates opportunity across the country. Through this agreement, both governments will catalyse billions in new investment, diversify trade, lower emissions, and create thousands of high-paying careers for workers,” said the Prime Minister in his July 2 news release today.
BC Premier David Eby on July 2, 2026 in Vancouver. [livestream]
The agreement created “a generational path to prosperity”, said Eby today at the Vancouver press conference. “It’s about building the kind of country and province we want, and BC’s future, not just today but for generations to come,” said BC’s premier.
The BC Government’s news release:
The BC Government summarizes the federal-BC agreement this way today:
It’s a multi-billion-dollar deal that funds transportation and clean energy, and commits to strengthening child care, workforce training while protecting BC’s north coast tanker ban
Delivers major new funding for critical infrastructure, resource projects, clean energy
Advances commitments to workforce training, childcare, environmental protection
Protects North Coast tanker ban and secures fair compensation for any future pipeline
Important achievements:
For Prime Minister Carney today this announcement seemed to underscore his national vision for federalism that works.
For BC Premier Eby today there was particular pride in maintaining environmental protections and providing a mechanism to continue providing social economic supports to British Columbians.
Prime Minister Mark Carney and BC Premier David Eby make joint prosperity announcement on July 2, 2026 in Vancouver. [CPAC livestream]
“It’s about building the kind of country and province we want, and BC’s future, not just today but for generations to come, said Eby today.
Eby pointed out that “made-in-BC electricity” is about “leveraging our advantages”.
Eby pointed out that today’s agreement “doesn’t require us to support any federal pipeline”, adding that BC will not be going to court to fight it (something BC learned the hard way when battling against the TransMountain Pipeline) as pipelines are federal jurisdiction.
But the agreement “ensures that the northern tanker ban stays in place”, said Eby today, adding that “BC would be fairly compensated for any environmental risk”… to which Carney nodded in the background as Eby addressed media.
Protecting land and waters:
Today’s agreement is underpinned by a series of historic commitments to protect and preserve Canada’s land and waters. To that end, Canada and British Columbia will establish a new National Carbon Credit Framework to build carbon markets that work. We will reinforce existing protections for Canada’s whales – including the Southern Resident Killer Whale habitat along British Columbia’s Coast – through a $250 million investment in the Whales Initiative announced in the Spring Economic Update.
We will also strengthen protections for coastal ecosystems through the Oceans Protection Plan. With this agreement, the federal government commits to maintaining the federal North Coast tanker ban, in accordance with the proposed route of a new trans-provincial pipeline under the bilateral agreement between Canada and Alberta.
Training, careers, and child care:
Canada’s new government is building at a scale and speed not seen in generations, which will create tens of thousands of high-paying careers across British Columbia and Canada. To prepare the workforce, the federal government will recruit, train, and certify up to 100,000 new Red Seal trades workers through our Team Canada Strong initiative, and partner with unions to maximise opportunities for Canadian workers. We are also taking action to stabilise and strengthen British Columbia’s strategic sectors, including softwood lumber.
This will include new measures to modernise operations, support simplified access to fibre, and expand the use of wood in construction. To help more British Columbians participate in Canada’s growing economy, we will provide over $630 million for affordable child care in British Columbia.
The big projects:
With its vast natural resources and shared ambition to build, British Columbia is a natural partner in this mission.
Today the Prime Minister and the Premier of British Columbia signed the new Canada-British Columbia Cooperative Prosperity Agreement.
According to the prime minister’s July 2, 2026 news release, the agreement is intended to further accelerate the construction of major energy and trade corridors throughout the province, including:
LNG Canada Phase 2, Ksi Lisims LNG, Cedar LNG, and Woodfibre LNG: The federal government will work with proponents, communities, and First Nations to accelerate the permitting, financing, and construction of these projects to boost LNG supply for Canadians and our allies.
Premier David Eby hosted a celebration of the active operations of the LNG Canada facility at Kitimat on July 30, 2025 accompanied by Minister of Energy and Climate Solutions Adrian Dix (left) and Chris Cooper, President & CEO of LNG Canada. [livestream]
Red Chris Mine Expansion: We will invest $500 million to expand Red Chris Mine, which will increase Canada’s annual copper production by more than 15%, support critical minerals demand for clean energy and manufacturing, and reduce greenhouse gas emissions by over 70% once operational.
Red Chris Mine in northern BC.
North Coast Transmission Line: We will provide $3.9 billion, through various tools, toward the total capital costs of Phases 1 and 2 of this project, to deliver clean, reliable, and affordable electricity to communities across British Columbia. The project has the potential to create $10 billion in new economic activity, while reducing emissions by up to three million tonnes annually. It will become the backbone of a clean-energy corridor, including a proposed Yukon-British Columbia Grid Connect that will increase the Yukon’s energy security and affordability, as well as a potential interconnect with Alberta to optimise power reliability and sustainability in that province.
BC Hydro dam in northwest BC [BC Govt]
In parallel, Canada and British Columbia are building the trade infrastructure we need to ship Canadian energy to new markets around the world, including:
Transforming the Port of Vancouver-Roberts Bank trade corridor: The federal government will invest in infrastructure upgrades to Roberts Bank Terminal, expanding the capacity of the Port to ship to new export markets overseas. This project will unlock over $100 billion in new trade capacity and add approximately $3 billion to Canada’s economy every year.
George Massey Tunnel Replacement Project: We will provide up to $3 billion to replace the aging four-lane transport tunnel along Highway 99 with a modern eight-lane tunnel. This will break down a key Lower Mainland trade bottleneck to enable British Columbia and Canada to export more of what we produce, faster – while cutting travel times for people and goods across Greater Vancouver and traffic bound for BC Ferries to Vancouver Island.
Port of Prince Rupert and the Port of Stewart: Canada will work with port authorities and First Nations to maximise the potential of these ports to serve as vital trade corridors for Canadian goods and services, including critical minerals.
As these ports and trade routes grow, we will also strengthen British Columbia’s maritime economy by prioritising engagement on federal vessel programs, including potential shipbuilding, servicing, and ship recycling sites on Vancouver Island and in the Lower Mainland.
Bailey preparing Budget 2027:
The timing of today’s announcement is important as BC Finance Minister Brenda Bailey gets rolling with the preparation of Budget 2027. She was in attendance today at the federal-BC announcement.
BC Finance Minister Brenda Bailey, March 6, 2026. [livestream]
BC would be facing continual deficits without more assurances of federal input to BC’s development of resource projects (including expansion of the electricity grid that will benefit the entire country), training for workers and careers, social supports (like child care), and other costs associated with expanding the economy.
Eby today mentioned the Look West strategy — saying it is particularly aimed at getting federal attention.
BC NDP edge:
This agreement could not come at a better time for the BC NDP government to be showing its strength in the realm of economic development and prosperity for the growing BC population.
This month the BC Conservatives are announcing their direction for fighting the NDP government in the Legislative Assembly starting this fall.
The next BC election is two years off (October 2028) but Budget 2027 will be a crucial turning point for Eby’s NDP to prove their success in supporting economic growth and prosperity for business and citizens.
The BC Conservatives today issued a news release saying that the BC NDP government is “opposing a new pipeline”, which isn’t correct — the provincial government is protecting environmental impacts of any new pipeline and has in fact stated being in favour of twinning the existing TransMountain Pipeline.
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Canada-British Columbia Cooperative Prosperity Agreement (Prime Minister’s Office – July 2, 2026)
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