Question: How does your party propose to fund the municipal infrastructure gap?
Due to neglect, our massive municipal infrastructure deficit is now estimated at $123 billion. The federal government must find innovative financing solutions to our infrastructure problems, to ensure Canada reaps the enormous economic and employment benefits that will come with building and maintaining worldclass infrastructure.
The Green Party has a longterm vision to create good local jobs, and build vibrant, safe, and livable Canadian towns and cities. We will invest an additional $6.4 billion in infrastructure to combat the infrastructure deficit. Through the Council of Canadian Governments, municipalities will be full partners in allocating the funding in this infrastructure program, including transit expansion, streets, parks, water systems, schools, and community centres.
We would also establish a federal Infrastructure Bank as an independent Crown Corporation to provide low-interest loans to municipalities for community brownfield remediation, water and waste treatment facilities, sports, cultural and recreational facilities, public transit, cycling and pedestrian promotion, and community housing. As long as the Infrastructure Bank recouped its borrowing and administrative costs, there would be no incremental impact on the federal government’s budgetary balance.
Infrastructure requires longterm planning, and all governments must collaborate to come up with workable approaches to the massive investment required.