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The Van Horne Institute congratulates feds on creation of Infrastructure Bank

CALGARY, Alta, HALIFAX, NS –The Government of Canada’s  recently released fall economic statement for 2016, is entitled “A Plan for Middle Class Progress”, and covers  a wide range of fundamental issues to be addressed in the New Economy.

The Van Horne Institute in 2011, in partnership with the School of Public Policy, published a “White Paper on Reforming Canada’s Transportation Policies for the 21st Century.”  The paper resulted from a roundtable of international experts who were asked to identify transportation policy initiatives that would inform Canada’s upcoming review of transportation policy.  The paper identified the adoption of iBanks in Canada.

A subsequent white paper, “Catching Up: the Case for Infrastructure Banks in Canada,” authored by Brian Flemming, CM, QC, Senior Fellow, Van Horne Institute suggested that governments at all levels should seriously analyze the benefits that could be derived from the adoption of an infrastructure banking concept in this country.

Flemming argued, “The ability of the federal government to raise money for infrastructure projects at the most favourable rates makes the central government the ideal candidate to create an iBank.”

The Van Horne Institute, based at the University of Calgary, is now congratulating the Federal Government for showing leadership in the development of an “innovative financing platform for infrastructure that will reap benefits for generations to come through the development of the Canada Infrastructure Bank”.

This bank will make investments in infrastructure projects that will contribute to the long-term sustainability of infrastructure across Canada.  It will be mandated to work with funds developed by the public sector and the private sector; a concept that was embraced by the Institute in its “Catching Up” paper.

“The adoption of Infrastructure Banks by the Government of Canada has been a long time coming,” said Peter Wallis, President and CEO, Van Horne Institute. “It is extremely rewarding to see this innovative tool for the financing of critical Canadian infrastructure identified for future action,” Wallis said.

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