Mr. Speaker, in fact, the new building Canada plan was announced in budget 2013. It has been open for business since March 2014. The timing of this year's budget, tomorrow, has absolutely no impact on the rolling out of the most significant investment in infrastructure in Canada's history.
Our Conservative government's support for public infrastructure has never been stronger. Whether it is in roads and bridges, public transit or water systems, we understand that investments in infrastructure are key to building strong, safe and prosperous communities.
Since 2006, in fact, we have dramatically increased the average annual federal funding for thousands of provincial, territorial, and municipal infrastructure projects across the country. We are building on Canada's historic investments with $75 billion for public infrastructure over the next 10 years. This includes, of course, the $53 billion new building Canada plan that I mentioned.
As Canada's largest and longest federal infrastructure plan, the new building Canada plan provides predictable and flexible funding so that municipalities from coast to coast to coast can address their most pressing infrastructure priorities and plan for the long term. Our new building Canada plan ensures support through a number of different funds.
The federal gas tax fund supplies almost $2 billion in funding per year. Since 2006, our Conservative government has extended, doubled, indexed, and made the gas tax fund permanent. We have also expanded its eligible categories so that it covers a wider range of types of projects. Further, municipalities can pool, bank, and borrow against their gas tax funding.
Another major component of the plan is the new building Canada fund, made up of a national infrastructure component for projects of national significance, and the provincial and territorial infrastructure component, which has dedicated funding for provinces and territories. Under the provincial and territorial infrastructure component, each Canadian province and territory receives a base amount plus a per capita allocation over the 10 years of the program.
Not only are the new building Canada plan programs well under way, as I mentioned, but significant funding in public infrastructure continues to flow from the original plan that we announced in 2007, and other federal programs to support infrastructure projects across the country.
Canadian municipalities, including Regina, Saskatchewan, and Sydney, Nova Scotia, have unprecedented ways in which they can put this federal funding to work in their communities. Through the plan, Saskatchewan will benefit from more than $1 billion in dedicated federal funding, including almost $437 million under the new building Canada fund, and an estimated $613 million under the federal gas tax fund.
Nova Scotia will also benefit from more than $1 billion in dedicated federal funding, including more than $426 million under the new building Canada fund, and an estimated $580 million under the federal gas tax fund.
While Regina and Sydney can count on their federal allocations through the gas tax fund, we will be pleased, of course, to consider investing in projects that both Regina and Sydney deem to be important, just as we will for all municipalities under the new building Canada fund. Municipalities must identify their infrastructure projects, and provinces must prioritize them.
Our government is committed to creating jobs, promoting growth, and building strong, prosperous communities across this great country.