Evidence of meeting #36 for Public Accounts in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was cib.
A video is available from Parliament.
Conservative
The Chair Conservative John Williamson
It is.
Do any members have another question? I see that Mr. Osborne does.
Go ahead, Mr. Osborne.
Liberal
Tom Osborne Liberal Cape Spear, NL
I do have one question.
I just want to get an idea of.... You've completed nine projects, but you mentioned earlier that you have over 100 projects that are in progress that you've funded. There are a couple of things for the folks who are watching. As Mr. McKinnon pointed out, you loan money, and you get that money back. This is not a grant program. However, of the projects you have in the works—over 100 projects—any of those that have actually started are creating employment. Can you talk a bit about the economic impact and the employment impact? Since you were incorporated in 2017, what has the impact been to the Canadian economy?
Executive Vice President, Portfolio and Strategic Projects, Canada Infrastructure Bank
We have 108 projects, of which 89 have started construction. Those projects have created economic benefits, GDP benefits, of over $40 billion in terms of economic growth that comes from the increase in construction activity that comes from building infrastructure. We estimate that it supports over 315,000 jobs. This is as of Q3, in December.
It then has further downstream economic benefits to Canadians. Those could come from a lower power rate that comes from more affordable power, which enables residents to have a more affordable power bill or enables Canadian businesses that use electricity to be more globally competitive. It also has downstream economic benefits in terms of better access to trade. We financed an export terminal at the port of Prince Rupert in partnership with an indigenous community, the Metlakatla Development Corporation. It's about breaking down trains that are coming in from the port of Prince Rupert and repositioning them to get them onto ships, so that exporters in B.C. and across the west can have better access to global markets. That supports jobs all across the country.
Conservative
The Chair Conservative John Williamson
Thank you. That's the time.
I want to thank our witnesses for coming in today and for their testimony and participation in relation to our study of the Public Accounts of Canada 2024 and the Public Accounts of Canada 2025.
The witnesses are excused.
We'll come back in about five minutes, in camera.
Thank you again.
This meeting is suspended.
[Proceedings continue in camera]