Minister Morneau’s announcement that the federal government will expand infrastructure funding to $186 billion over 11 years – a $66 billion increase over March’s budget - is a welcome one. The new $35 billion Infrastructure Development Bank, and more trade and transportation infrastructure funding to help cities maximize their borrowing capacity is good news for Metro Vancouver.
Vancouver’s economy is the fastest growing, most resilient and greenest in Canada; our region is growing and with it our urgent infrastructure needs. I’m pleased to see the federal government is ready to action on and invest in our infrastructure priorities, helping us move forward quickly on critical projects in the Mayors’ Council Ten-Year Vision for Metro Vancouver Transit and Transportation like the Broadway Subway that will deliver long-overdue improvements to cut congestion and keep people moving across the region.
I am particularly pleased that Minister Morneau states that this new $35 billion Infrastructure Development Bank will complement, and not replace, the Trudeau government’s existing $60 billion commitment to social, green and transit infrastructure capital. For years, cities have been calling on the federal government to increase its investment in infrastructure and support innovative financing for major projects. This announcement is another concrete demonstration of the federal government’s recognition of the role that cities play in meeting our shared economic, social and environmental goals.
Mayor Gregor Robertson
Chair, Mayors' Council on Regional Transportation