Saturday, October 20, 2018

Ottawa and B.C. reach 10-year infrastructure spending deal

Ottawa and Victoria have inked a 10-year deal which will see $4.1 billion in infrastructure funding spent in the province.

The money isn’t new, however. Until Monday, the province and the federal government had been in negotiations over the funding streams that would allow the cash to actually flow to B.C.

The deal unlocks more than $2.6 billion in previously committed transit funding, including the $2.2 billion earmarked for B.C. in the 2017 budget, expected to cover Ottawa’s 40 per cent share of Surrey light rail transit (LRT) and a Broadway subway line.

Those projects form the core of the Mayors’ Council’s 10-year transit plan. The provincial government has also promised to pay for 40 per cent of the cost, and earlier this month, the region’s mayors announced a plan to pay for their 20 per cent share.

Keep reading on Global News

 

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