Ontario makes unprecedented infrastructure investment in Budget 2015
24 Apr, 2015, 14:35 ET
TORONTO, April 24, 2015 /CNW/ - The Government of Ontario's Budget 2015 increases the dedicated funds available for public transit, transportation and other priority projects by $2.6 billion as part of its historic 10-year, $130 billion long-term infrastructure plan.
"The record investments that the Government of Ontario is making in infrastructure will help unlock the full economic potential of this province," said Mark Romoff, President and CEO of The Canadian Council for Public-Private Partnerships. "In addition to providing much-needed infrastructure, this level of investment will provide better services, create more jobs and stimulate the economy."
The Province has also taken bold steps in ensuring the budget is on its way to balance, while investing in infrastructure needed today. The accepted recommendations of the Premier's Advisory Council on Government Assets will not only help pay down the provincial debt but it will also allow the province to invest $5.7 billion of those savings into infrastructure.
The infrastructure investments are welcome and in an era of fiscal restraint these investments must maximize value for money. Ontario is a world leader when it comes to delivering infrastructure projects through the Alternative Financing and Procurement (AFP) model. The government through Infrastructure Ontario is delivering more than 80 projects through AFP's and are attracting global interest from government's looking to build world class procurement agencies.
"We are also pleased that once again, the Ontario government recognizes the role of the AFP model in providing high quality infrastructure on-time and on-budget, with significant savings to taxpayers. The benefits of Budget 2015 infrastructure investments will be maximized through the continued use of the model" added Romoff.
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
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)
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