Conservative Party Leader Erin O’Toole promised on Wednesday to scrap the Liberal government’s inefficient infrastructure bank.
According to O’Toole, the infrastructure bank, which was established by Liberal Party Leader Justin Trudeau in 2015, was a failed Liberal project.
“Unlike the Liberals, we won’t condition funding so narrowly, to whether the project can be described as ‘green infrastructure,’” said O’Toole during a campaign stop in Ottawa.
O’Toole also stated that under a Conservative government, the existing money in the bank would be distributed to infrastructure projects that are ready to build.
Additionally, money would be used so cities and First Nations could have better access to government infrastructure funds by cutting regulatory obstacles.
With regard to digital infrastructure, O’Toole reiterated his promise to reach high-speed internet for all Canadians no matter where they live in the country.
To date, the crown corporation has yet to complete a single project despite having existed for over half a decade.
Infrastructure Minister Catherine McKenna revealed in February 2021 that the $35 billion bank was inactive despite the fact that in 2019 the bank claimed that it had 25 projects ready to be announced by early 2020.
Despite not completing any projects, in 2020 the infrastructure bank spent over $1.5 million worth of expenses for travel and publicity. The bank also spent two-thirds of its budget on paying staff.
