March 22, 2013
News Release - Federal Budget’s Long-Term Infrastructure Investment and Commitment to P3s Will Deliver Value to Taxpayers
The Canadian Council for Public-Private Partnerships (CCPPP) commends the federal government on its commitment to predictable long-term infrastructure funding and the recognition that public-private partnerships (P3s) play a key role in delivering value for money to taxpayers.
“A 10-year commitment provides assurance that funding will be there to build Canada’s much-needed infrastructure for the long term, an essential contributor to growing Canada’s productivity, economic prosperity and global competitiveness” said Mark Romoff, President and CEO of CCPPP. “The renewal of the $1.25 P3 Canada Fund and the requirement that projects applying for federal funding over $100 million go through a P3 screen, demonstrates the priority government attaches to providing value for money and protection to taxpayers.”
Mr. Romoff noted that public-private partnerships are an innovative tool available to governments to deliver state-of-the-art infrastructure. “They strengthen our economy and provide Canadians with important public facilities that might otherwise not get built,” he said. “With guaranteed maintenance requirements,” he added, “public-private partnerships help ensure that assets last longer and cost less over their lifecycle.”
Canada currently has more than 180 public-private partnerships valued at over $60 billion. Strong federal support will help ensure Canada remains a world leader in this area and encourages Canadian companies to take their P3 expertise global.