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Transport committee You're putting me in the hot seat. What we did was look at past projects, essentially, that are currently in the pipeline, and the bank provided us with information that's in the public domain. So it's looking at the past, and the past is summarized in our blog post. To say i
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee The top three reasons for projects not being pursued are these: falling outside of the mandate because they're an ineligible sector and not part of the five or six sectors that are part of the bank's mandate; insufficient size, I assume because it's too small; and lack of scalabi
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee I would not want to impute intent to the Canada Infrastructure Bank's employees. I don't think there is malicious intent. I think the problem is rather the fact that there had never had been intent to gather all the information on all infrastructure projects in a single place. G
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee Quite the opposite. Based on the information we were provided by the Canada Infrastructure Bank, we came to the exact opposite assessment.
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee It's very difficult for me to assess that question, because that's all in the eye of the beholder. But in terms of comparison, I can compare my office's budget to the bank's. The bank's operating expenditures are about $41 million or $42 million this year for 74 employees, if I h
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee We asked for information from the Canada Infrastructure Bank about their projects, their portfolio and so on. We were provided with information that's almost exclusively already public. They cited confidential information of a commercial nature, but our office is entitled to rece
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee The cause of those disparities must first be taken into consideration. Are they caused by different needs? The disparities may be explained by needs and readiness varying from one province to another. However, if the needs are essentially the same from one province to another, b
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee Yes, it is a discrepancy that can be telling, but we should still take it with a grain of salt, as the program is only at its beginnings and the time frame is about a dozen years. It is possible, and even probable, that such discrepancies are related to the time frames of certain
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee Perhaps I misspoke. I was rather talking about 8,500 to 9,000 projects for which we don't have all the information. I cannot give you the value of those projects off the top of my head. Ms. Nahornick could perhaps give you information on that. Nora, do you know the...?
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee We use the definition that's used by Statistics Canada to define a government entity. There is no doubt that the Caisse de dépôt uses the funds entrusted to it by future pensioners in Quebec and is mandated to make these funds fructify or generate revenues, but it is still a gove
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee Let me first talk about lapses. Generally speaking, governments are funded by appropriations that work on an annual basis. If any department doesn't spend its allocated funding in a year, it usually lapses. It doesn't get spent. That is unless the government re-profiles that an
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee We looked at the projects. We got information from the banks themselves. We also looked at Statistics Canada's definition of “government entities”, and based on the funding for which there have been contracts signed, the two that you are referring to—Réseau express métropolitain
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee That's a very accurate summary.
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee Unfortunately, it's very difficult to quantify private sector involvement, because we had to rely on publicly available data. There's no evidence of significant private sector involvement, at least in the funding of these projects. There may be in some of the advisory services, b
March 23rd, 2021Committee meeting
Yves Giroux
Transport committee Based on the first four years of operations of the bank, or almost four years, it would certainly seem that it behaves like a traditional government entity in providing grants or loans or whatever type of financing that is typical of government institutions without leveraging pri
March 23rd, 2021Committee meeting
Yves Giroux