"That is why, today, we are taking another major step to strengthen our communities.
Mr. Speaker, I am pleased to announce the creation of the new Building Canada plan, the largest long-term federal commitment to Canadian infrastructure in our nation’s history.
$53.5 billion over the next 10 years for provincial, territorial and municipal infrastructure."
- Federal Finance Minister Jim Flaherty from 2013 Budget speech
Another significant announcement in the budget with the renewal of the P3 Canada Fund with an additional $1.25 billion (doubling the original allocation from 2006 or 2007). This indicates that the federal government wants to continue to encourage the pursuit of innovative public-private partnerships to build municipal infrastructure using the carrot of more money. This will help continue to develop Canada'a already fairly robust P3 sector, and with specific funding to help municipal governments develop expertise in procuring these types of projects. While P3s do not in themselves solve the funding issue (they are really more about risk transfer and allowing governments to pay over time), over the medium term I believe they will help stretch infrastructure funding dollars, and get projects built more quickly, so this is good news.