The high yield from good investments in infrastructure is one that is largely indirect to the governments. They don't necessarily yield revenue directly, but if they are supporting more vibrant international trade, stronger internal trade and projects that would otherwise not have gone ahead, then the economy grows, people's incomes grow and government revenue benefits from that. It's very much to be wished for.
The concern I have—and I'll be very quick, because I might not be addressing your question directly—is that if the federal government does come under fiscal pressure, which can sometimes result from the fact that these transfer payments are flowing rather generously, the transfer payments to other levels of government have historically been a vulnerability when the federal government retrenches.
One of the reasons I would like to see them on a more sustainable fiscal track right now is that it means provinces can count on the supports they're getting, for health care particularly, into the more distant future in a way that they cannot if the federal government gets into fiscal trouble.
