Investing in Canada Plan
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About the Investing in Canada plan
Through the Investing in Canada plan, the Government of Canada is making historic new investments in infrastructure – more than doubling existing funding – to build the cities of the 21st century and provide communities across the country with the tools they need to prosper and innovate.
The Investing in Canada plan is based on three key objectives:
- Create long-term economic growth
- Support a low carbon, green economy
- Build inclusive communities
To do this, the federal government is investing more than $180 billion over 12 years in five main infrastructure priorities:
Budget 2016 committed $14.4 billion focused on accelerating federal investments in the short term by providing funding for the rehabilitation, repair, and modernization of existing public transit, green and social infrastructure. Additional funding was targeted towards post-secondary education and broadband access for remote communities.
Budget 2017 made an additional $81.2 billion of funding available across five priority infrastructure streams: public transit, green, social, trade and transportation, and rural and northern communities' infrastructure.
The Investing in Canada plan also includes two new initiatives: the Smart Cities Challenge and the Canada Infrastructure Bank. As an arms'-length Crown corporation, the Bank will invest federal funds in projects that are in the public interest and generate revenue, by attracting private and institutional capital. Through the Smart Cities Challenge, the Government of Canada is challenging communities from coast to coast to coast to bring forward their best ideas for improving the lives of their residents through innovation, data and connected technology.
Included in the Investing in Canada plan is $92.2 billion in funding that is available through existing programs. For example, the 2014 New Building Canada Fund was improved to accelerate funding and increase flexibility in how the funding can be used by communities. Of these funds, approximately $3 billion will continue to be made available each year for municipal projects through the Goods and Services Tax Rebate and the federal Gas Tax Fund.
Delivering the long term plan
The Minister of Infrastructure and Communities is responsible for the overall coordination and reporting on results for the Investing in Canada plan.
The Plan will be delivered through a broad range of targeted infrastructure funding programs by various federal departments and agencies:
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