New Federal Infrastructure Funding Announced

Finance Minister Bill Morneau announced that Phase 2 of the federal Infrastructure Plan will be expanded from $48 billion over 8 years to $81 billion over 11 years during his fiscal update yesterday. Minister Morneau also announced that $15 billion from the expanded Phase 2 plan would be delivered through a new Canada Infrastructure Bank.

The announcement deepens the commitment made by the Government of Canada in Budget 2016 to fund community infrastructure. Phase 2 funding will be allocated as follows:

- Public Transit: $23.5 billion
- Green Infrastructure (Clean Air, Clean Water): $21.9 billion
- Social Infrastructure: $21.9 billion
- Getting Canadian Products to Global Markets: $10.1 billion
- Rural & Northern Communities: $2 billion

Further details on the full design of the Phase 2 plan are expected in Budget 2017. In a news release yesterday, Federation of Canadian Municipalities President Clark Sommerville applauded the Government of Canada’s commitment to expanding infrastructure funding saying, “These unprecedented infrastructure investments will mean more growth, more jobs and stronger communities”.

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