Canada's Economic Action Plan

Canada's Economic Action Plan

March 17, 2014 15:30 ET

Minister Lebel Highlights Benefits of the New Building Canada Plan for Metro Vancouver

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 17, 2014) - Minister Denis Lebel spoke today before the Vancouver Board of Trade on the New Building Canada Plan and what it means for Metro Vancouver.

The New Building Canada Plan builds on the Government's unprecedented investments in infrastructure. In 2007, the Government of Canada introduced the seven-year, $33-billion Building Canada Plan, which provided stable, flexible and predictable funding across the country. These historic investments in public infrastructure continue with $70 billion over the next decade, including the $53 billion New Building Canada Plan for provincial, territorial and municipal infrastructure that enhances economic growth, job creation and productivity.

In Metro Vancouver, the New Building Canada Plan will support local infrastructure priorities that will improve economic development and quality of life in the region. Funding will help deliver cleaner water, better roads and easier access to public transit for residents. Projects funded through the New Building Canada Plan will ensure that Metro Vancouver remains competitive and innovative on the world stage. From investments in local roads to investments in water and wastewater, Metro Vancouver will benefit greatly from the New Building Canada Plan.

While the New Building Canada Plan is expected to launch very soon, our existing federal infrastructure programs will continue to support over 2,500 ongoing or new infrastructure projects across Canada during 2014 alone.

In British Columbia, federal funding is flowing to hundreds of projects through the federal Gas Tax Fund, in addition to a number of ongoing major infrastructure projects, including the BC Transit Kelowna RapidBus and the BC Transit Improvement Initiative, which are funded though other programs.

The Minister also mentioned that the federal government continues to boost international commercial ties through the historic Free Trade Agreement with the Republic of Korea, which was recently announced by the Prime Minister. This agreement provides Canadian businesses with a gateway to Asia, enhancing the global competitiveness of agricultural producers in Manitoba and of exporters across the country.

Quick Facts

  • Since 2006, British Columbia has benefited from over $1.88 billion under the Building Canada Fund, the Provincial-Territorial Base Fund, the Green Infrastructure Fund, and the Infrastructure Stimulus Fund and over $1.56 billion provided to British Columbia through the federal Gas Tax Fund. Under the New Building Canada Plan, the province of British Columbia is set to receive close to $4 billion in dedicated federal funding over a ten-year period. This includes almost $1.1 billion under the New Building Canada Fund and close to $2.8 billion under the federal Gas Tax Fund, which will provide funding for British Columbia infrastructure priorities.
  • British Columbia also stands to benefit from $4 billion available for projects of national significance, $1.25 billion in additional funding available for P3 projects and $10.4 billion via the GST Rebate, which provides municipalities across the country with additional resources to address their infrastructure priorities.

Quotes

"We are proud to support economic growth in Metro Vancouver and across all of British Columbia. Since 2006, the province has benefited from unprecedented investments in infrastructure, and the new Building Canada Plan will ensure that we build upon these successes. Targeted infrastructure investments promote trade, encourage job creation and economic growth, and improve the quality of life for British Columbians."

Minister Denis Lebel

Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec

"Our members - the business leaders and job creators in British Columbia - are acutely aware of the critical role that infrastructure plays in our economic success. If Canada hopes to increase trade with the Asia-Pacific, we will need a strong infrastructure network here in B.C. If we hope to create jobs, boost productivity, and enhance Canada's competitiveness, we will need a strong infrastructure network here in B.C. The New Building Canada Plan demonstrates that our federal government understands how vital infrastructure is to our collective future."

Iain Black, President and CEO of The Vancouver Board of Trade

Additional information

The New Building Canada Plan

New Building Canada Plan: British Columbia

Canada's Economic Action Plan 2013: The New Building Canada Plan

Infrastructure Canada: Programs

Contact Information

  • Michele-Jamali Paquette - Director of Communications
    Office of the Minister of Infrastructure,
    Communities and Intergovernmental Affairs,
    and Minister of the Economic Development Agency of Canada
    for the Regions of Quebec, Ottawa
    613-943-1838

    Infrastructure Canada
    613-960-9251
    Toll free: 1-877-250-7154