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Written by Citizen Staff
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Friday, 28 March 2008 |
The city and the Fraser-Fort George Regional District will receive ongoing infrastructure funding from the federal Gas Tax Fund, which will become a permanent measure, Cariboo-Prince George MP Dick Harris announced today.
"The federal gas tax benefits Prince George and Fraser-Fort George Regional District by providing long-term predictable funding for infrastructure priorities such as public transit, water and wastewater infrastructure and local roads," Harris said.
Last week, B.C. was the first province to sign an extension of the Gas Tax Agreement with the federal government and the Union of B.C. Municipalities (UBCM), a benefit worth more than $1 billion from the Gas Tax Fund (GTF) between 2010 and 2014.
"This means that Prince George will receive over $11.6 million through that extension and the Fraser-Fort George Regional District over $2.6 million," added Harris. "Today’s good news is now that we are making this funding permanent. Prince George and the Fraser-Fort George Regional District will be able to plan and finance future infrastructure needs with this additional funding, every year, forever.
"The government is making the largest single federal investment in public
infrastructure since the Second World War through our Building Canada Plan, a total of $33 billion over seven years."
To help maximize this investment the government has created a new Crown corporation called PPP Canada Inc. It will be the first public private partnership office of its kind at the federal level in Canada. By increasing the use of P3’s and taking into account contributions by other levels of government, the government should be able to leverage a $100 billion investment in infrastructure.
The federal government is also providing $500 million to make further investments in public transit capital infrastructure. This funding was announced in the 2008 budget and will be dedicated to several specific projects.
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Last Updated ( Wednesday, 08 October 2008 )
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