Federal 2022-23 budget, released last month includes first-time funding and incentives for projects to stem climate change impacts; Aecon, FCC Construccion head group awarded big Toronto rail electrification project
Investment focuses on renewable energy and building efficiency, but concerns are raised over lack of core infrastructure and oil and gas spending; wage subsidy program is extended
The consortium, led by global infrastructure owner-developer John Laing Investments Ltd., will design, build and finance the new 18-km, 19-stop light rail transit line.
Even as Canada’s government boosted national infrastructure spending by 11% from 2015 to 2017 and launched the Canada Infrastructure Bank to attract and funnel private-sector project dollars, private investment declined 18% in the same period, says a report by a think tank at Ontario’s Western University.
A shrinking budget deficit is usually good news, but a drop in federal debt in Canada is raising concerns over delays in government efforts to funnel infrastructure money into projects.
Major delays in a pair of multibillion-dollar bridge proposals have handed Canada’s Trudeau government a setback as it pushes to get marquee infrastructure projects moving to boost the economy.
