The New Building Canada Plan:
$53 billion, including over $47 billion in new funding, over the next 10 years
Economic Action Plan 2013 delivers a new Building Canada plan to build roads, bridges, subways, commuter rail, and other public infrastructure in cooperation with provinces, territories, and municipalities.
The new plan will encourage greater involvement of the private sector in the provision of public infrastructure and ensure better value for taxpayers. Projects with capital costs of over $100 million under the new Building Canada Fund will be subject to a P3 screen to determine whether better value for money can be achieved through P3 procurement.
The new Building Canada plan includes:
- The Gas Tax Fund ($21.8 billion)
- which will now be indexed; and
- which will now give municipalities greater flexibility to spend federal funding on a broader range of infrastructure priorities.
- An incremental Goods and Services Tax Rebate for Municipalities ($10.4 billion).
- A new Building Canada Fund with two components:
- A $4-billion, merit-based, National Infrastructure Component to support investments in projects of national significance, particularly those that support job creation, economic growth and productivity.
- A $10-billion Provincial-Territorial Infrastructure Component that will support projects of national, regional and local significance across the country in a broader range of categories. This component will include base funding for each province and territory.
- An additional $1.25 billion in funding for P3 Canada, which will continue to be administered by PPP Canada Inc.
The Minister of Transport, Infrastructure and Communities will work with stakeholders on outstanding program parameters for the new Building Canada Fund and will announce details later this year. In the meantime, we will continue to work with our partners and stakeholders to deliver funding under our existing programs.
Read the Budget.
See the video:
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