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Ontario pledges $27.5-billion for infrastructure
Publication date: 2nd April 2009
TORONTO - Ontario will spend $27.5-billion on roads, schools and transit over the next two years in effort to create 300,000 new jobs. Premier Dalton McGuinty says the infrastructure investment - which will come in Thursday's budget - is a key part of the province's plan for the economy.
It doubles the amount invested in the 2008-2009 period. Ottawa has promised $5 billion for infrastructure, bringing the total amount available for projects to $32.5 billion.
Transportation projects will get the biggest chunk of money, at $9 billion, followed by health care at $7 billion and education at $4-billion.
The investment is expected to translate into 146,000 jobs in the first year and 168,000 in the second. This week's budget is expected to include a deficit of about $18-billion over two years.
Source:
The Canadian Press
March 23, 2009 at 12:13 PM EDT
Globe and Mail Online
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