From the Federation of Canadian Municipalities:
The Government of Canada has recognized the need to boost Canada’s economy in the face of worldwide financial turmoil and an impending recession, and it has chosen infrastructure spending as one of the remedies. We agree with the diagnosis and applaud this choice of remedy. Spending on infrastructure is a tried-and-true response to an economic slowdown. A study released by FCM earlier this month shows that accelerated infrastructure spending is the best way to boost our country’s economy and immunize it against a recession….
What is needed now is the political follow-through to cut red tape and ensure that the BCF money budgeted for these projects in 2007 and 2008 is spent immediately. Now is the time for concrete steps to expedite funding. This is a national challenge that needs a national response. A $3-billion investment would leverage a $9-billion total investment, creating nearly 100,000 new jobs.
Success will be driven by the leadership of the federal government and the cooperation of all the provincial, territorial and municipal governments. At FCM, we are ready to do our part to help the Government of Canada give the economy a booster shot that will rebuild our infrastructure and help Canadians through the coming recession.”
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