The Federal Gas Tax Fund at work in Ontario

OTTAWA, ONTARIO--(Marketwired - July 31, 2015) - Infrastructure Canada

The Government of Canada is proud to announce that the first installment of the annual allocation of the federal Gas Tax Fund has been made available to Ontario municipalities. The annual $2-billion federal Gas Tax Fund allocation will provide over $744.9 million in 2015-2016 to help Ontario communities build and rehabilitate their infrastructure.

Every year, municipalities benefit from the support and flexibility of the federal Gas Tax Fund. They can pool, bank and borrow against this funding, providing significant financial flexibility to plan infrastructure projects over the long term. Projects are chosen locally and prioritized according to the infrastructure needs of each community. Since 2006, municipalities across Ontario have benefited from close to $5.5 billion towards funding for local infrastructure priorities under the Fund.

Between 2014 and 2024, Ontario municipalities will receive an estimated $8.12 billion in new federal infrastructure funding through the Gas Tax Fund.

Quick Facts

• To date, $15 billion has been made available to Canadian municipalities through the federal Gas Tax Fund, with close to $22 billion flowing over the 10 year duration of the renewed agreements.
• On average, the federal Gas Tax Fund supports 850 projects per year in Ontario, such as:
  • The improvement of Sarnia's Donohue Bridge;
  • The reconstruction of the Shellard Lane corridor in Brantford;
  • The completion of resurfacing work on Fourth Line and 17 Side Road in Halton Hills;
  • The improvements on London's Canada Games Aquatic Centre in London; and
  • The purchase of 204 brand new streetcars in Toronto which will eventually replace all vehicles in the current fleet.

Quote

"Since 2006, our Government has made significant improvements to the federal Gas Tax Fund, to ensure it delivers flexible, indexed and predictable long-term funding to communities in the GTA, Ontario and across Canada. Investments through the federal Gas Tax Fund are helping municipalities address their local infrastructure priorities, while contributing to create jobs, promote productivity and support economic growth. This year's first instalment to Ontario will benefit residents across the province."

The Honourable Joe Oliver, Minister of Finance

Associated Links

To learn more about the federal Gas Tax Fund visit: http://www.infrastructure.gc.ca/plan/gtf-fte-eng.html.

For additional information on the New Building Canada Plan, visit: http://www.infrastructure.gc.ca/plan/plan-eng.html.

To learn more about the Government of Canada's focus on jobs and the economy consult Canada's Economic Action Plan: http://www.budget.gc.ca/2015/home-accueil-eng.html.

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