Infrastructure  Mr. Speaker, very reputable Canadian pension funds, such as the Canada Pension Plan Investment Board, teachers, OMERS, Caisse de dépôt, the Alberta Investment Management Corporation, invest in international infrastructure. They invest in infrastructure in other countries. We want to create conditions so that our own pension funds that manage money on behalf of Canadians can invest in our own country to build the needed infrastructure and create jobs for Canadians.

Infrastructure  Mr. Speaker, during the process to create the Canada infrastructure bank, we consulted extensively with municipalities, provinces, stakeholders, and investors. We all understand that in order to mobilize private capital, in order to build the infrastructure, we need to create a governance structure, an arm's-length crown corporation, accountable to the government through Parliament to the people of Canada.

Infrastructure  Mr. Speaker, we have put forward a very ambitious, bold plan to build Canadian community infrastructure, tripling the investment compared to the previous government's meagre commitment to building infrastructure. We understand that if we mobilize private capital, we can undertake projects that would never get built.

Infrastructure  Mr. Speaker, as I have often stated in the House, the bank is designed to shift the risk to the private sector, with appropriate investments that the private sector will make in any given project. We will make sure that the experts who will be running the bank ensure that the public interest is always protected and that public dollars are always protected.

Infrastructure  Mr. Speaker, P3s will continue to play a dominant role in building infrastructure, and we support that. We are allowing municipalities to make their own decisions. We do not impose a certain procurement model on our partners. It is their decision. As well, the PPP Canada organization has supported the creation of the Canada infrastructure bank, because it sees that both complement each other to build the infrastructure that is required by Canadian communities.

Budget Implementation Act, 2017, No. 1  Mr. Speaker, I want to make sure that my vote is recorded, and recorded no.

Infrastructure  Mr. Speaker, as I have stated in the House many times, the infrastructure bank and any project undertaken by the infrastructure bank will be required to follow all provincial, territorial, and municipal laws. We respect the local jurisdiction and we will ensure that in order to grow our economy, we will continue to work with the provinces, including a very strong relationship with the province of Quebec, and all MPs working in the House advocating on behalf of the province.

Infrastructure  Mr. Speaker, we have put forward a very ambitious agenda to help build and rebuild Canadian infrastructure by tripling of our investments compared to the previous Harper government. Our goal is to go even further. We believe that by mobilizing the pension funds of institutional investors, we can help build infrastructure that otherwise would never get built or may take decades to build.

Infrastructure  Mr. Speaker, when it comes to building infrastructure, members of the opposition, including the NDP, really lacked commitment. It was quite evident in the last election. We put forward a very ambitious agenda because we understood that Canadian communities needed to build more affordable housing, more public transit to reduce congestion, and more recreational culture infrastructure to build healthy communities.

Infrastructure  Mr. Speaker, the bank has been set up with the same legal structure as many other crown corporations. I can assure the hon. member that any project undertaken by the bank will be required to follow all provincial, territorial, and municipal laws. We have committed to investing in infrastructure to support our provinces and municipalities.

Infrastructure  Mr. Speaker, last week we welcomed 2,000 delegates of the Federation of Canadian Municipalities to the annual conference here in Ottawa. Working together with these municipal leaders, we have announced 2,900 projects with a combined investment of $23 billion since taking office.

Infrastructure  Mr. Speaker, I am puzzled by the hon. member's question. On the one hand she accuses us of being too close with the private sector, with banks, and on the other hand she is telling us that government will have too much power in decision-making. We have created the right balance.

Infrastructure  Mr. Speaker, we have a tripled our infrastructure investments compared to the last government. FCM, the Federation of Canadian Municipalities, calls budget 2017 “a game-changer for municipalities”. We are committed to investing in infrastructure, and only a small portion, 10% of the entire infrastructure plan, will be delivered through the bank.

Infrastructure  Mr. Speaker, as I have said many times, the bank is only one optional tool available to municipalities when it comes to supporting infrastructure that their communities need. Let me tell the House what the International Monetary Fund had to say about the bank. It said, “the proposed Canada Infrastructure Bank...will be an effective instrument in achieving this goal”, which is to grow our economy, create opportunities for the middle class, and provide the necessary support that our municipalities need to build the infrastructure they need.

Infrastructure  Mr. Speaker, unlike the Harper government, we respect local decision-making and we allow local municipalities to determine which procurement model they want to use. The bank is an optional tool available to them, as the Prime Minister stated on Friday. As a matter of fact, our plan is very much appreciated by the Federation of Canadian Municipalities and many of other partners.