Why is the federal government encouraging provinces, territories and municipalities to pursue public-private partnerships (P3s)?
Substantial investment in Canada’s infrastructure is required to grow our economy, make our environment cleaner and our communities better. P3s can provide significant financial contributions to infrastructure projects – that would otherwise be very costly to Canadian taxpayers – and can help in building projects faster and at a lower cost. In addition, where appropriate, P3s allow the public sector to mitigate itself from some of the risk of building, operating and maintaining infrastructure. Building Canada encourages the development and use of P3 best practices by requiring that P3s be given consideration in larger infrastructure projects funded through the Gateways and Border Crossings Fund and by the Building Canada Fund, Specifically, all projects seeking $50 million or more in federal contributions will be required to assess and consider the viability of the P3 option.
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- Why is the federal government encouraging provinces, territories and municipalities to pursue public-private partnerships (P3s)?
