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Dion commits $70-billion over 10 years for infrastructure
CAMPBELL CLARK
Globe and Mail Update and The Canadian Press
September 18, 2008 at 1:18 PM EDT
TORONTO — Liberal Leader Stéphane Dion took a ride on a Go Train to Toronto to underline his pledge to devote all annual surpluses of more than $3-billion to public infrastructure, but at a time when surpluses are disappearing, he proposed no new funds in the short term.
Mr. Dion has pledged the Liberals would spend infrastructure money differently, with more emphasis on environmentally-friendly projects.
The Liberals say they will create a 10-year, $70-billion "plan" for building infrastructure, although they are not proposing any additional new money in the next four years.
They have proposed one new initiative, essentially lifted from U.S. Democratic presidential candidate Barack Obama: an infrastructure bank.
That would see the government set up a crown corporation so that provinces and municipalities could borrow at lower interest rates to finance infrastructure projects. Canadians would be able to buy shares in the bank or "green bonds," while the debt would be backed by government guarantees.
In addition, the Liberals said they would devote any surplus over $3-billion to infrastructure, rather than debt.
Mr. Dion said Canada is facing an infrastructure deficit in the hundreds of billions of dollars and he promises to invest “aggressively” to address the problem.
He said government must make investments that will increase competitiveness and create good, well-paying jobs.
Mr. Dion said the Liberals would honour existing framework agreements between Ottawa and the provinces, and adjust the gas tax transfer to help municipalities stay ahead of rising infrastructure costs.
“Canada's cities and towns are the engines of our economy,” said Mr. Dion. “Without significant long-term investments in infrastructure, our economy and environment will suffer.
“This plan will provide Canada's economic engines with the support they need, and is an important part of our efforts to reduce Canada's environmental footprint.”
Mr. Dion made the statements in Toronto, where he appeared alongside Toronto-area candidates and former leadership rivals including Michael Ignatieff, Bob Rae, Gerard Kennedy, and Martha Hall Findlay.
And at a time when Mr. Harper's minister is under fire – and Mr. Dion's own leadership performance has been criticized – the Liberal Leader did not hesitate to play up his team.
“I have an extraordinary team. He has a lamentable team. I work with a team. He works alone,” he said.
On Wednesday, Green Leader Elizabeth May said she would raise the GST one point to six per cent to pay for municipal infrastructure.
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