Discussion · Government Orders
Pat Kelly Conservative
“Experts told our committee that the Canada Infrastructure Bank failed, and that this new fund will fail too. The bank promised to bring in five private dollars for every public dollar, but it only brought in about 60 cents. I want the member to explain how this new fund will not be the same kind of failure.”
“Mr. Speaker, I would like the member to comment on comparisons that have been made between this new fund and the Canada Infrastructure Bank. We were told by expert witnesses at committee on Monday that the Infrastructure Bank was failed industrial policy and that the fund would be just more of the same. We have heard defence of the Infrastructure Bank. In fact, one of the Liberal members claimed that it was leveraging private sector money. It was promised to do five dollars for every one dollar of public funds. We were also told at the finance committee that there would be about 60¢ of private investment for every dollar. Could the member comment on the failures of the Infrastructure Bank and how they correlate to this new future boondoggle?”
Mr. Speaker, I would like the member to comment on comparisons that have been made between this new fund and the Canada Infrastructure Bank. We were told by expert witnesses at committee on Monday that the Infrastructure Bank was failed industrial policy and that the fund would be just more of the same. We have heard defence of the Infrastructure Bank. In fact, one of the Liberal members claimed that it was leveraging private sector money. It was promised to do five dollars for every one dollar of public funds. We were also told at the finance committee that there would be about 60¢ of private investment for every dollar. Could the member comment on the failures of the Infrastructure Bank and how they correlate to this new future boondoggle?