The federal government is stepping up when it comes to infrastructure spending.
Finance Minister Bill Morneau introduced fall’s economic statement at Parliament Hill today, and Mayor Don Iveson was pleased with what he heard.
“Mayors across the country are jubilant at this point,” said Iveson. “The previous infrastructure commitments were really, really encouraging, but we needed some longer term certainty. Particularly for some large projects.”
Considerably more money spread out over time means the money will be there for the second phase of the Valley Line LRT to west Edmonton. Over two years there will be total funds of $8 billion for transit. According to Mayor Iveson, there will also be $6 billion for social infrastructure and $6 billion for green infrastructure.
“Functionally what that means is there’s a lot more money on the table over a ten year horizon for transit projects in this country,” said the mayor. “What that means for us is it’ll be just that much more feasible for us to move ahead with Valley Line phase two.”
The Valley Line was specifically mentioned in Morneau’s statement, which emphasized to Edmonton officials that this is a worthwhile project which requires long term commitment from the federal government.
“The federal government is absolutely stepping up when it comes to a longer term commitment for transit,” Mayor Iveson said, adding that across the country, mayors are thrilled with the statement. (KLM, SJ)