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.
