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Experts back spending

There has never been a better time to fix every­thing that’s broken in Canada, economists say.

There has never been a better time to fix every­thing that’s broken in Canada, economists say.

Transport Minister John Baird yesterday indicated the government will invest $7 billion in infrastructure as part of the stimulus package to be unveiled today.

Benjamin Tal, senior economist at CIBC, predicts other governments will pump $650 billion into global infrastructure in the next two years — building and rebuilding highways, roads, bridges, overpasses, water supply systems, waste water treatment facilities and sewer systems.

Tal argues that Canada, which has $700 billion worth of assets in its pension funds, could easily make a large-scale investment into infrastructure, something he says would be a good idea, even though it would push the country deeper into debt.

A $10-billion infrastructure investment in Canada, he says, could potentially create 110,000 jobs.

 
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