The 2009 federal budget tabled yesterday by the Government
which will be voted on this evening allocates C$12 billion in federal funds to infrastructure over the next two years. The federal contribution, 
however, requires matching funds from the provinces of C$9 billion and an unspecified amount from local governments. In addition there will be federal spending on infrastructure that it it is solely responsible for. Some of the projects that have been identified include
C$4 billion for provincial and municipal infrastructure such as roads and sewers
C$2 billion for universities and colleges
C$500 million for electronic medical records
C$269 million for federal bridges
C$407 million for Via rail for the Montreal-Ottawa-Toronto corridor
C$750 million for the Canadian Foundation for Innovation
C$50 million for the Institute for Quantum Computing at the University of Waterloo
C$250 million for federal labs such as the Canadian Food Inspection Agency
C$515 million to repair schools, water treatment plants and other infrastructure in aboriginal communities
According to the Globe and Mail the total amount of public and private funding that is expected to flow into infrastructure projects this year is estimated to be C$61 billion. It is estimated that every C$10 billion in spending creates 115 000 jobs and increases the GDP by 1.5%.

Be the first to comment