CCA Welcomes 2016 Federal Budget
New infrastructure commitments provide critical funding for Canada’s economy
OTTAWA, ON, Tuesday March 22, 2016 – The Canadian Construction Association (CCA) welcomes the government’s $120 billion commitment to long-term infrastructure funding, announced today in the 2016 federal budget.
“Infrastructure renewal is critical to the future of Canada,” said Michael Atkinson, president of the Canadian Construction Association. “Budget 2016 commits an impressive additional $60 billion plus in new federal infrastructure investments in two phases, while accelerating portions of the existing Building Canada Fund. The budget also commits unused portions of the previous Building Canada Fund to the Gas Tax Fund over the next two years.”
In addition to these new infrastructure funds, Budget 2016 also commits $3.4 billion in investments for federal infrastructure assets, as well as $2 billion over three years starting this fiscal year for a new post-secondary institution investment fund. Combined, these commitments will significantly accelerate the pace of infrastructure modernization across Canada.
“CCA looks forward to the timely implementation of Phase I and is optimistic that these funds will be available for the 2016 construction season,” Atkinson added. “The Association also looks forward to working with the government in helping to shape Phase II of its infrastructure plan, which promises to be broader and more ambitious than Phase I.”