Public infrastructure builds a sustainable, equitable future

Description

Public infrastructure is an excellent investment. It provides valuable public services that improve the quality of life in our communities, and also has important short-term and long‑term economic impacts. Over the short term, public investment in infrastructure provides one of the strongest economic boosts to the economy in terms of stimulating growth and creating jobs. Over the long term, public infrastructure improves life for everyone, increases productivity, reduces costs for business and helps stimulate increased business investment. Canada's infrastructure deficit is over $150 billion. The Federation of Canadian Municipalities (FCM) estimates that municipally-controlled water and wastewater facilities alone need an injection of over $50 billion to renew infrastructure in poor or very poor condition. Local governments also bear much of the additional infrastructure costs for climate change mitigation and adaptation. The 2013 floods cost the Province of Alberta and City of Toronto $3 billion. The annual costs of natural catastrophes are forecast to rise to $5 billion annually by 2020 and to over $20 billion annually in 2050.