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Infrastructure  Mr. Speaker, the bank would be set up with the same legal structure as many other crown corporations. Any project that it would invest in would be required to follow all provincial, territorial, and municipal laws. We respect the jurisdiction of our provinces. We are investing a

May 31st, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, yesterday I met with two ministers from Premier Brad Wall's government willing to partner with us under the infrastructure bank to build the transmission infrastructure their province requires. They understand that by mobilizing private capital through the infrastruc

May 31st, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, I want to assure the hon. member and this House that the bank would only undertake projects that were in the public interest and would not invest in risky projects. Rigorous due diligence will be done by the bank, by the investors, by the municipalities, by the provi

May 31st, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, the Canada Pension Plan Investment Board, OMERS, teachers, Caisse de dépôt, and the Alberta Investment Management Corporation all invest in foreign infrastructure, in international infrastructure. What is wrong if the same organizations work with our government to bu

May 31st, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, the legislation related to the bank is very clear. This is an optional tool for municipalities and provinces to use. It is part of our overall extensive, ambitious, infrastructure plan to invest more than $186 billion, and out of that less than 10% will be invested

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, for the creation of the Canada infrastructure bank, we consulted very extensively with provinces, territories, municipalities, the private sector, institutional investors, and labour organizations. Our goal is to support municipalities and provinces to build more inf

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, it is the first time in the history of our country that we have put forward $2 billion in dedicated funding for rural northern communities so we can focus on building infrastructure that those communities need. This is on top of the other funding available to our com

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, as I assured members earlier, the bank will be accountable to Parliament in a number of ways. It will be required to submit an annual corporate plan and annual report. Further to that, it will have the highest standard of having its books audited by the Auditor Gener

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, the Canadian communities and municipalities are very pleased with our infrastructure plan because they understand. That leader and his party had no plan for infrastructure. That party neglected the infrastructure for a decade. Therefore, our goal is to ensure we put

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, I do not know to which interference the hon. member is referring. We consulted with provinces and municipalities. The infrastructure bank is one additional tool to help them build the infrastructure that communities need. We are putting forward $186 billion, triplin

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, after a decade of inconsistency and ad hoc planning by the previous government, municipalities told us that they want long-term, sustainable, and predictable funding to build the infrastructure they need. We put forward a historic plan to support our municipalities a

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, I can assure the hon. member and this House that the bank will be accountable to Parliament. The bank will table its corporate plan in Parliament as well as the annual reports. It will report to the Auditor General. It will be open to audit by the Auditor General. W

May 30th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, last week was a very good week for Canadian municipalities. We announced 750 projects, more projects in one week than the previous government did in four years combined. That is delivering for Canadians. We put forward a very ambitious agenda to build and rebuild Can

May 29th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, I can assure the hon. member and the House that we are structuring the Canada infrastructure bank to function in a way that it will be accountable to Parliament. It will report to Parliament on an annual basis, at the same time making sure it is a crown corporation,

May 29th, 2017House debate

Amarjeet SohiLiberal

Infrastructure  Mr. Speaker, for the last couple of weeks, the member of the opposition and his party have been criticizing us that the bank is too close to private capital. Today, he is saying that it will be too close to government. We have struck the right balance. We believe that the bank wi

May 29th, 2017House debate

Amarjeet SohiLiberal