Government must have power in approval of infrastructure bank deals: Barton
OTTAWA — The man who played a lead role in drawing up the blueprint for Canada’s proposed infrastructure bank says the agency should not be completely independent of political oversight.
Cabinet needs to have a say in the selection of projects supported through the bank, which is designed to merge public and private cash for infrastructure, said Dominic Barton, chair of the government’s influential economic growth council.
The infrastructure bank is a key tool in the Liberals’ economic growth strategy. It’s designed to use $35 billion in public funds as leverage to attract billions more in private investment for large projects, such as rail lines, bridges and transit systems.
Earlier this week, Finance Minister Bill Morneau said the federal cabinet will have powers when it comes to the approval of projects under evaluation by the bank. It’s important, he said, for government to protect the interests of Canadians when huge, multibillion-dollar projects are under consideration.