Building at speeds not seen in generations, as per Mark Carney’s oft-repeated election pledge, has been less hypersonic than the prime minister might have wished.
As the new parliamentary budget officer pointed out last week in an analysis of the spring fiscal update, only two of 15 projects being overseen by Carney’s Major Projects Office are actually under construction, and the two largest have yet to reach a final investment decision.
Part of the problem remains regulatory uncertainty, and that was the subject of a discussion paper issued by the government on Friday. That sounds of little consequence, but it could prove seismic.
