The Building Canada Plan

The New Building Canada Plan is a ten-year plan geared towards providing support for infrastructure projects that will encourage economic growth, generate jobs and provide prosperity for the residents over the long term.

The New Building Canada Plan is a ten-year $53 billion project, representing the biggest and longest federal infrastructure plan in the history of Canada. Its components are the Community Improvement Fund, the New Building Canada Fund and the P3 Canada Fund.

The Community Improvement Fund is geared towards projects that will improve infrastructure in the municipalities, such as roads, public transit and amenities for recreation. The $32 billion dollar Fund is composed of the Gas Tax Fund and the Goods and Services Tax Rebate for Municipalities.

The $14 billion dollar New Building Canada Fund was recently launched. Of this amount, $4 billion will go towards financing projects that will have national importance such as highways, public transit and those related to trade infrastructure under the National Infrastructure Component. Meanwhile, $10 billion will be deployed for projects that will be relevant nationally, locally or regionally under the Provincial-Territorial Infrastructure Component. Projects like highways, public transit, drinking water, wastewater, Internet connectivity and the like are covered under the Provincial-Territorial Infrastructure Component. $1 billion of the $10 billion is allocated specifically to communities with residents of less than 100,000. Applications are already accepted for the fund.

Funding amounting to $1.25 billion will go to the P3 (Public-Private Partnerships) Canada Fund. This is in addition to the $6 billion in funding that is already going into Canadian projects from separate infrastructure programs already in place.