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Abolish Liberal Boondoggle Canada Infrastructure Bank

When I first ran in Calgary Centre in 2019, the Canada Infrastructure Bank (CIB) was one of the key items on the agenda about one of the boondoggles that the government is foisting upon Canadians.

Today, the House of Commons debated the Standing Committee on Transport, Infrastructure and Communities recommendation to abolish the Canada Infrastructure Bank.

The Canada Infrastructure Bank’s accomplishment is to transfer wealth from Canadians into the pockets of insiders. With almost nothing to show as far as completed projects, the insiders at the Canada Infrastructure Bank have collected $7 million in bonuses on top of their salaries.

The Canada Infrastructure Bank is a way to make the government’s friends rich at the expense of taxpayers. At the end of the day, Conservatives are here for Canadians, who pay their taxes and expect government to operate efficiently and effectively. Nothing of that order is happening here right now.

Greg McLean – House of Commons Debate, 26 October 2023

The Parliamentary Budget Officer completed a review in 2021 of the CIB and found that the bank is not achieving the primary objective of leveraging investments, as was the concept and the whole goal of this. That is because nobody believes this infrastructure bank is going to do anything good at the end of the day. It is just going to put money into the pockets of insiders.

“…despite the CIB’s goal of leveraging private investment, projects to date have been exclusively funded by federal, provincial and municipal levels of government.”

Yves Giroux, Parliamentary Budget Officer

Common Sense Conservatives will get rid of the boondoggles, first and foremost, before having to start making real cuts. The government will eventually have to make real cuts. Conservatives will be ahead of them. We will be cutting the boondoggles out and getting us back to balance in the Canadian economy.

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