The 2019 federal and provincial budgets will assist in stabilizing the construction and surety markets, says to the Surety Association of Canada. One of the provincial budget highlights, according to the association, included Ontario’s Capital Plan Outlook for planned investments in 2019‐20 totaling $14.7 billion and reflects the government’s commitment to invest about $144 billion over the next 10 years. It was announced that beginning in 2019-20, the government’s plan reflects more sustainable levels of infrastructure investment and a more realistic forecast of construction timelines for major projects planned or underway, in keeping with actual expenditure patterns, the release indicates. On the federal level, the 2019 budget doubles support for municipal infrastructure priorities through a Municipal Infrastructure Top‐Up, which will double the amount of money that municipalities get through a one‐time transfer of $2.2 billion through the federal Gas Tax Fund. It will provide much needed support for local priorities, including funds that will help address the short‐term priorities of municipalities including repairs for roads and bridges, public transit, and building water treatment facilities READ HERE
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