June 17, 2020 UPDATE ON THE INVESTING IN CANADA PLAN Powered by TCPDF (www.tcpdf.org) The Parliamentary Budget Officer (PBO) supports Parliament by providing economic and financial analysis for the purposes of raising the quality of parliamentary debate and promoting greater budget transparency and accountability. Lead Analyst: Nora Nahornick, Analyst Contributors: Sarah MacPhee, Analyst Caroline Nicol, Analyst This report was prepared under the direction of: Jason Jacques, Director General and Chief Financial Officer Nancy Beauchamp, Jocelyne Scrim and Rémy Vanherweghem assisted with the preparation of the report for publication. For further information, please contact
[email protected] Yves Giroux Parliamentary Budget Officer RP-2021-008-S_e Table of Contents Executive Summary 3 How did we get here? 5 How much money has been spent on how many projects? 6 How much money was leveraged from Provinces? 8 What are the economic impacts of the IICP? 11 Annexes 12 Annex A: Data Request 12 Annex B: Breakdown of projects 13 Annex C: Federal Transfers to Municipalities 14 Notes 11 Update on the Investing in Canada Plan Executive Summary In response to interest from parliamentarians, the Parliamentary Budget Officer (PBO) updated its monitoring of the Investing in Canada Plan (IICP). Under the IICP, the Government has committed to spend $187.8 billion over 2016-17 to 2027-28. The PBO solicited data from all 20 departments and agencies responsible for delivering IICP programming. Working with Infrastructure Canada, we compiled a data set of 33,112 entries for projects with $34.9 billion in spending since 2016-17.1 Infrastructure Canada also provided guidance to PBO that there are about 20,556 IICP projects supported through the Canadian Mortgage and Housing Corporation (CMHC) and the Gas Tax Fund (GTF).2 Disaggregated information for the GTF was provided June 5th, 2020, subsequent to the completion of our analysis.3 Based on additional, more aggregated data, PBO estimates that $51.1 billion was spent on the IICP between 2016-17 and 2019-20.