The latest research from the Canada West Foundation concludes that Canada’s governments should not hesitate when it comes to maintaining a high level of investment in public infrastructure because it is a key driver of economic productivity.
Click here to listen to an audio interview from the Canadian Contruction Association: http://www.youtube.com/watch?v=vkF38liXgiM&feature=youtu.be
At the Intersection: The Case for Sustained and Strategic Public Infrastructure Investment, is based on more than 200 studies and shows a strong link between public infrastructure investment and long-term economic growth. Currently, Canadian public and private infrastructure assets, which are used daily and enable our economy to function, are valued at $4 trillion.
“The Canadian economy has to become more productive or we won’t be able to maintain social programs in the face of an aging population without significantly increasing taxes. The good news is that investing in public infrastructure can boost economic productivity,” says Canada West Foundation senior policy analyst and co-author of the report Casey Vander Ploeg.
At the Intersection proposes five recommendations to help grow the economy and maintain our quality of life:
- Sustained and strategic investments in Canada’s public infrastructure should be continued.
- Priority should be given to public infrastructure that enhances economic performance.
- Governments should encourage innovative approaches to the design of public infrastructure.
- Governments should not focus exclusively on new infrastructure and should give due consideration to renewing existing public infrastructure.
- Ongoing analysis and evaluation of recent public infrastructure investments should be conducted and the lessons applied to future investments.
“It would be a shame if we decided to wiggle out of our fiscal problems by offloading the cost of repairing our existing infrastructure onto the next generation,” says Vander Ploeg. “Similarly, if we fail to consider the economic value of investing in public infrastructure, we risk undermining the economic prosperity we need to maintain our high quality of life in this country.”
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