Presidents Message – February
Economic confidence is built on results, not reassurance.
Canada enters the new year in a cautious economic environment. Businesses are watching costs closely and investment decisions are taking longer. This is a period of adjustment, and the choices made now will matter.
Rail moves the majority of the country’s surface freight and carries much of what Canada produces and exports – from Prairie grain to energy products, manufactured goods, and everyday essentials. It connects inland producers to ports and underpins trade across the country and beyond.
Railways operate in the real economy, not in theory. Every day, they deliver the results that keep supply chains moving and Canadian businesses competitive, even under pressure. To sustain that performance, railways have emphasized the importance of policies that translate directly into action – starting with modernizing labour laws to ensure disputes are resolved quickly, preferably at the negotiation table, and with minimal disruption to employees and the supply chains Canadians rely on. We also maintain our ask for a tax regime that will support investments in all sectors through 100% immediate depreciation on capital investments that strengthen productivity and long-term capacity.
Like the railways themselves, Canada’s economy does not adjust through theory or paperwork alone. It adjusts through infrastructure that works, day in and day out, across regions and borders. In 2024 alone, Canada’s railways re-invested a record $4.5 billion into their Canadian assets, a 9.5% year over-year increase, bringing the total over the past decade to $35.5 billion invested. To break it down even further, $2.4 billion was invested in track and roadway infrastructure, nearly $900 million was invested in the newest high-capacity hopper cars and locomotives that meet the highest emissions standards, and $1.2 billion into other equipment and technologies to further strengthen the network.
Railways are built for that long-term responsibility. They are designed to carry the weight of economic cycles, not just the upside.
As the year ahead unfolds, Canada’s success will be measured in practical terms: goods delivered, exports reaching global markets, and businesses able to plan with confidence. Rail will continue to play a central role in making that possible.
The strength of Canada’s rail sector lies not only in steel and infrastructure, but in the more than 38,000 railroaders who operate it every day and the commitment to efficiency that defines the industry.
That steady performance, though not always visible, is essential and it remains one of Canada’s economic advantages.
Eric Harvey