Attendees at National Infrastructure Summit in Regina agree change is needed
There's a concensus at the National Infrastructure Summit in Regina that many things have to change in Canada before our $123 billion dollar infrastructure gap can be addressed.
More than 350 delegates from across the country are trying to figure out how to fix Canada's roads, bridges, tunnels, sewers, and community centers. Politicians among the crowd insist a new, long-term federal funding plan needs to take the place of the current property tax system. However, several experts taking the podium believe that's not all that needs addressing.
Keynote speaker Penny Burns explains our billions of dollars worth of public investments are aging at two per cent a year, a pace our funding can't keep up with.
“Are you prepared to set aside two per cent of this amount every year in preparation for renewal?” Burns asked the crowd in her address Thursday afternoon. “If we are honest, and we must be honest, we know this is never going to happen.”
Burns helped Australia figure out how to keep track of its infrastructure 25 years ago. Proper asset management, she stresses, is the key to learning how to spend strategically.