Transport committee  The PBO did publish a report with respect to the precedents of lapses and the nature of lapses in the past. Again, for us, the focus isn't necessarily on whether lapses are good or bad or the instrument choice; it becomes a question simply around timing. Something we've pointed out in the past is that, again, the timing of when the money flows ends up being important.

Transport committee  I'm gratified that you read the report. I think that's you, my mom, and probably my supervisor in the office who have.

Transport committee  In particular, the reasons that infrastructure money lapses and federal infrastructure transfer programs tend to lapse at a higher rate have been identified by your colleagues around the table. First, with standard programs, the government will come to Parliament, and Parliament will provide them with the legal authority to spend.

Transport committee  Very recently we have had an opportunity to have several additional meetings and conversations with the office of Infrastructure Canada. We have received an undertaking and a commitment from the Minister of Infrastructure that they will be furnishing us with more comprehensive information in a more timely way.

Transport committee  This is the second time over the past two years, and for us it ends up being very much a function of the interest of the committee and of parliamentarians, as well as the extent to which, from our own fiscal forecasting perspective and our own view of the Canadian economy, the context has changed.

Transport committee  It was one that came to us squarely from your counterparts in the Senate at the national finance committee. Their question was about the impact on the federal fiscal plan of federal infrastructure investment from phase one, both in the current term and over the medium term—so over the next five years or so—as well as the overall impact on the Canadian economy, taking into account the potential related effects or additional contributions made by provincial and municipal governments.

Transport committee  For our purposes, it's not for me to opine upon what the Senate or members should or shouldn't be asking. What I will say is that we do have a standing request from the House of Commons finance committee. Every six months, on request by that committee, from 2011 we have been expected to produce an economic and fiscal outlook.

Transport committee  As we indicated in the note, the delay in spending ends up being a risk with respect to the government's forecasts, both on the fiscal side and on the economic growth side. As well, something new that we pointed out in this note in more detail and from a more technical perspective is the idea that it matters when you spend the money.

Transport committee  Going back to the first part of your question, it's not for us to opine upon policy or instrument choice. That said, when you're actually looking at assets that potentially have a lifespan of between 10 and 40 years, that certainty with respect to a funding source is just a basic question.

Transport committee  As well, I know one of the witnesses you're going to hear from after us, from the Institute of Fiscal Studies and Democracy, published work specifically looking at other jurisdictions and the fact that at the national level, they actually have longer-term infrastructure plans. That seems to be a good or a leading practice.

Transport committee  To the crux of your question, with respect to whether there's a plan in place or whether you need to have a plan, I think, if we look at any other federal government program, there's absolutely an internal requirement consistent with government policies to actually have a plan in place for the spending of any significant sums of money.

Transport committee  We followed up with the infrastructure bank earlier today, and we're still waiting for an explanation from it on the delay in responding to us. I can commit to the committee that, once we do have an explanation on the delay in the response, we can certainly provide an update to the committee.

Transport committee  The short answers to your question, because I tend to be grandiloquent occasionally, is yes to one and yes to two. With respect to the delays and the signing of the bilateral agreements, we take do take that into account. With respect to accounting for project delays, and to your point with respect to the accounting differences between cash and accrual, we also take that into account.

Transport committee  With respect to the delays or the gap between what is announced in a federal budgeting document versus what actually occurs when you look at the public accounts at the federal level around infrastructure spending, it is absolutely not new. This is something that, I think, in our first committee appearance or shortly after budget 2016, we flagged as a risk associated with the delays for the reasons that you enumerate.

Transport committee  Ostensibly, there should be matching funding at the very least.