Supporting long-term economic growth with historic $53B New Building Canada Plan
Our Government understands that Canada’s economy relies on efficient and effective public infrastructure. It gets us to work in the morning and home at night. It ensures we have clean drinking water. It moves our goods to market and connects people and businesses with the world. In short, it provides the backbone of our communities, supporting economic growth and quality of life.
This is why infrastructure investments are a key part of our Government’s plan for jobs, growth, and long-term prosperity. The New Building Canada Plan will provide $53B over the next 10 years to improve our public infrastructure. This is predictable, reliable funding for communities all across the country. It will help build roads, bridges, subways, commuter rail, and other public infrastructure that enables the prosperity of all Canadians.
With this new plan, we are continuing to build on a solid record of investing in public infrastructure. Investment in infrastructure by the federal government has never been higher and has increased dramatically since 2006. In fact, since 2006, our Government has almost doubled the average annual federal funding for provincial, territorial, and municipal infrastructure. We are seeing the results of these investments today. Our Government’s 2007 Building Canada Plan has supported over 12,000 provincial, territorial, and municipal infrastructure projects across Canada.
Over the next 10 years, the $53B New Building Canada Plan will continue to focus on economic growth, job creation, and productivity. Every region of the country will benefit from this historic Plan. For instance, in Ontario, this represents almost $11B in dedicated federal funding.
Over $2.7B in dedicated funding for projects of national and regional significance and an estimated $8.12B dedicated exclusively to Ontario’s municipalities through the federal Gas Tax Fund.
This is the longest and largest infrastructure plan in Canadian history. This funding is predictable and stable and provides provinces, territories, and municipalities with the flexibility they need to plan their infrastructure projects over the long term.
Our Government’s commitment to enhancing Canada’s infrastructure remains firm. We will continue strengthening our economic prosperity by helping to deliver world-class public infrastructure in every region of Canada.