New Building Canada Plan Investments Critical to Support Canada's Economy and Long-Term Well-Being
TORONTO, Feb. 14, 2014 /CNW/ - Increased trade, efficient movement of goods and people, stable long-term funding, thousands of new jobs and strong, prosperous communities: the Canadian Council for Public-Private Partnerships (CCPPP) salutes these outcomes, which will result from the New Building Canada Plan announced by Prime Minister Stephen Harper and the Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec.
The federal government has now laid out the policy framework for productive use of the $53 billion available for renewing Canada's infrastructure over the next ten years - the largest long-term infrastructure plan in Canadian history. The Plan will be an important driver of national, regional and local projects across the country in a range of areas including transportation, public transit, drinking water, wastewater, connectivity and broadband and trade corridor-related infrastructure - bringing economic prosperity and a higher quality of life to Canadians everywhere.
The Plan includes $1 billion in funding for communities with a population of 100,000 or less, where project planning and financing have historically been more difficult to achieve. Projects with total eligible costs of more than $100 million will be required to undergo a P3 Screen, to be administered by PPP Canada. If the screen determines that a project could be successfully procured through a public-private partnership and would generate better value for money, access to the New Building Canada Fund will be conditional on the project being delivered as a P3.
"This is great news for all communities across Canada," said Mark Romoff, President and CEO of CCPPP. "The inclusion of a binding P3 screen is testimony that Canada's P3 model has achieved a high level of credibility, accountability and maturity. This will support the faster delivery of the high-quality infrastructure that Canada needs to achieve greater prosperity and global competitiveness."
About the Canadian Council for Public-Private Partnerships: Established in 1993, CCPPP is a national not-for-profit non-partisan, member-based organization with broad representation from across the public and private sectors. Its mission is to promote innovative approaches to infrastructure development and service delivery through public-private partnerships with all levels of government. The Council is a proponent of evidence-based public policy in support of P3s, facilitates the adoption of international best practices, and educates stakeholders and the community on the economic and social benefits of public-private partnerships.
SOURCE Canadian Council for Public-Private Partnerships