Thank you, Mr. Chair.
Welcome, Mr. Leblanc. It is so long since the committee has met in person. Obviously, we are pleased to see you.
My questions for you pertain to the 2022 budget. After reading a passage on page 79, I have some questions you may be able to answer. It says: “Budget 2022 signals the government's intention to accelerate the deadline for provinces to fully commit their remaining funding under the Investing in Canada Infrastructure Program, to priority projects to March 31, 2023. As a measure of fiscal prudence, any uncommited funds after this date will be reallocated to other priorities.”
If I understand correctly, provinces will now have until 2023, and not 2025, to spend the funding provided under the investing in Canada infrastructure program.
What about the amounts that are not spent?
Does that mean that those amounts will no longer go to that program? Will they be reallocated to various other projects?
The provinces will not necessarily keep the unused money because it is not theirs.
Is that correct?