VANCOUVER, B.C.–The federal government has committed more funding towards infrastructure under the $53 billion New Building Canada Plan.
Economic Action Plan 2013 builds on ongoing federal investments and aims to contribute to the building of roads, bridges, subways, commuter rail, and other public infrastructure in cooperation with provinces, territories, and municipalities over 10 years, starting in 2014-15.
The new Building Canada plan also has a Community Improvement Fund of $32.2 billion consisting of an indexed Gas Tax Fund and the increased GST Rebate for Municipalities to build roads, public transit, recreational facilities and other community infrastructure across Canada.
The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities, Minister of the Economic Development Agency of Canada for the Regions of Quebec and Minister of Intergovernmental Affairs, officially announced the funding at the Federation of Canadian Municipalities (FCM) Annual Conference and Trade Show June 1.
“Our Government recognizes that investments in Canada’s public infrastructure create jobs, economic growth and provide a high quality of life for families in every city and community across the country,” said Minister Lebel. “In our Economic Action Plan 2013, we delivered the longest and largest commitment to job-creating infrastructure funding in Canadian history.”
“We will not miss a construction season,” Lebel said. “We have a flexible plan that lets local councils set local priorities. We will not impose a made-in-Ottawa solution.”
The new Building Canada plan has three main components:
— Community Improvement Fund – $32.2 billion consisting of an indexed Gas
Tax Fund and the increased GST Rebate for Municipalities
— New Building Canada Fund – $14 billion in support of major economic
infrastructure projects that have a national and regional significance.
— Renewed P3 Canada Fund – $1.25 billion to continue finding innovative
ways to build infrastructure projects faster and provide better value for
Canadian taxpayers through public-private partnerships.
The new plan, which follows extensive consultations with the FCM and other stakeholders, will take effect following the conclusion of the original Building Canada program at the end of the current fiscal year.