The Federal Gas Tax Fund at Work in British Columbia

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 British Columbia municipalities. The annual $2-billion federal Gas Tax Fund allocation will provide over $253.2 million in 2015-2016 to help British Columbia 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 British Columbia have benefited from over $1.81 billion towards funding for local infrastructure priorities under the Fund.

Between 2014 and 2024, British Columbia municipalities will receive an estimated $2.76 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 500 projects per year in British Columbia, such as:
  
  
  • Energy efficiency upgrades at the Kelowna International Airport;
    
    
  • Construction of a new drinking water reservoir in Nanaimo;
    
    
  • Replacing the Craigflower Bridge connecting View Royal and Saanich;
    
    
  • Improvements for pedestrian and cyclist safety in and around Victoria; and,
    
    
  • Upgrades to the wastewater treatment facility and road infrastructure in Lake Country.
    
    

Quote

"Since 2006, the Government of Canada has made significant improvements to the federal Gas Tax Fund: taking concrete action on its commitment to ensure it delivers flexible, indexed and predictable long-term funding to communities across Canada. Investments through the federal Gas Tax Fund are helping British Columbia's municipalities address their local infrastructure priorities, while creating jobs, promoting productivity and supporting economic growth. This first installment of 2015 will continue to benefit residents across the province."

The Honourable James Moore, Minister of Industry

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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