TORONTO, April 21, 2015 /CNW/ - The Canadian Council for Public Private Partnerships (CCPPP) welcomes the 2015 Federal Budget, which recognizes the need for investing in transit infrastructure, highlights the successes of public-private partnerships (P3s), and encourages their continued use where they deliver value for money.
"In particular, we are pleased with the creation of a new Public Transit Fund that will provide a source of permanent funding for major transit projects starting in 2017 and will harness private sector expertise, including P3s," said Mark Romoff, President and CEO of The Canadian Council for Public-Private Partnerships.
"The Federal Government has demonstrated leadership today by continuing to invest in public transit infrastructure that is critical to the economic engine of our municipalities and to people's quality of life. While all applicable financing mechanisms will be explored, we are grateful that the government specifically identifies P3s as a valuable tool in delivering large complex projects," added Romoff.
Public-private partnerships have been major contributors to Canada's economy, with over 290,000 direct jobs and $25.1 billion in direct GDP created over a 10-year period.
"Today's investment, combined with the long-term infrastructure plan and previous investments in the PPP Canada Fund show that the government is taking significant steps to building and renewing infrastructure in this country," stated Romoff.
CCPPP welcomes the opportunity to work with the Federal government in the coming weeks and months ahead as it designs and launches its new programming.
About the Canadian Council for Public-Private Partnerships: Established in 1993, CCPPP is a national, 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
Image with caption: "Canadian Council for Public-Private Partnerships (CNW Group/Canadian Council for Public-Private Partnerships)". Image available at: http://photos.newswire.ca/images/download/20150421_C8878_PHOTO_EN_14590.jpg
For further information: about CCPPP contact: Mark Romoff, President and CEO, CCPPP, 416-861-0500, [email protected]; For Media Enquiries contact: Chris Allicock, [email protected], 416-694-3131 (o), 416-319-8003 (c)