Joe Preston, Member of Parliament for Elgin-Middlesex-London on behalf of the Honourable Denis Lebel, Minister of Infrastructure, Communities, and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today highlighted the benefits of the $53 billion New Building Canada Plan, the largest long-term federal infrastructure plan in our nation’s history.
The New Building Canada Plan builds on the Harper Government’s unprecedented investments in infrastructure, providing stable, predictable funding for projects that enhance economic growth, job creation and productivity. With a wider range of eligible categories under the Plan, Canadian provinces, territories and municipalities have the flexibility to meet their unique infrastructure needs.
While the permanent, annual, $2-billion federal Gas Tax Fund allocation continues to flow across Canada to help municipalities build and revitalize their local public infrastructure, new programs are also moving ahead. As demonstrated with the funding announcement for the Valley Line Stage 1 Light Rail Transit expansion project in Edmonton, Alberta, contributions from New Building Canada Fund are already being set aside for eligible projects, and will continue to be throughout the next decade.
We are ensuring a seamless transition from our previous programs to our new Plan as funding continues to flow unremittingly. Approximately $5 billion will flow every year, including this year, to support projects across Canada over the next ten years.
· The $53 billion New Building Canada Plan provides stable funding for a 10-year period, and includes:
o The Community Improvement Fund, consisting of the Gas Tax Fund and the incremental Goods and Services Tax Rebate for Municipalities, which will provide over $32 billion to municipalities for projects such as roads, public transit and recreational facilities, and other community infrastructure.
o The $14-billion New Building Canada Fund, which consists of:
§ The $4-billion National Infrastructure Component that will support projects of national significance; and
§ The $10-billion Provincial-Territorial Infrastructure Component for projects of national, regional and local significance. Of this amount, $1 billion for projects in communities with fewer than 100,000 residents through the Small Communities Fund.
o An additional $1.25 billion in funding for the Public-Private Partnerships (P3) Canada Fund administered by PPP Canada.
“I am happy to report that project applications for funding under our new programs are coming in. We have already begun approving projects and are hard at work to ensure value for money for all Canadians. In addition, funding continues to flow to all Canadian municipalities to support important local infrastructure projects through the federal Gas Tax Fund. We understand the vital importance of infrastructure to help get goods to market, to connect people and businesses with the world, and to reduce gridlock on our roads and highways. Through our unprecedented financial support for public infrastructure, we are ensuring that communities like Elgin-Middlesex-London enjoy a high standard of living, new economic opportunities, and a safe, healthy environment. ~ Joe Preston, MP
Read about funding for the Edmonton Valley Line Stage 1 Light Rail Transit expansion project here.
For additional information on the New Building Canada Plan, visit:www.infrastructure.gc.ca
To learn more about the Government of Canada’s focus on jobs and the economy consult Canada’s Economic Action Plan: www.eap.gc.ca