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RBC chief executive says too much of Canada’s economy put under ‘bubble wrap’

On Wednesday, Oct. 8, 2025, Royal Bank of Canada president and CEO Dave McKay argued Canada protects too many parts of its economy and urged less risk aversion.
A week earlier, Alberta announced funding for early pipeline work to the northern B.C. coast, while Premier Danielle Smith, Premier of Alberta, said federal rules have made private proposals unjustifiable.
Repeated false starts, McKay said, have discouraged companies considering major infrastructure projects, while leadership teams resist investing more time and money amid risks of lengthy delays.
Officials must approve projects quickly so financiers can commit, McKay urged, warning delays risk blocking projects like the northern B.C. coast pipeline proposal for Alberta oilsands crude.
On trade, McKay said Canada should diversify export customers amid United States tariff pressures and warned any deal may require a market access fee, adding, `I don' think that we're going to be better off through this.

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Global Trade: Royal Bank Boss Says Canada Is Too Reluctant to Risk

The president and chief executive officer of the country's largest bank said that Canada put too much under "bubble-bubble film" and must become less reluctant to risk to prosper in the face of global trade upheavals.

23 hours ago·Montreal, Canada

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The Record

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Lean Left

RBC chief executive says too much of Canada’s economy put under ‘bubble wrap’

CALGARY - The chief executive of the country's biggest bank says Canada puts too many things under "bubble wrap" and needs to become less risk-averse to prosper in the face of global trade upheaval.

24 hours ago·Waterloo, Canada

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