Canada’s New Government Is Getting Things Done: Alberta getting Additional Funding for Transit, Housing and Education

September 28, 2006

OTTAWA – The Honourable Jim Flaherty, Minister of Finance announced that Canada’s new government is providing the Alberta Government with an additional $322.2 million to invest in public transit, affordable and aboriginal housing and post secondary education. These federal government funds are part of Bill C-48.

“This funding will provide the Alberta government with significant new resources to invest in key priority areas that will benefit families and taxpayers throughout the province,” said Minister Flaherty. “Our government made a commitment to provide this funding and as we have demonstrated time and time again, we keep our commitments.”

Bill C-48 authorizes Canada’s new government to make payments to the provinces and territories not exceeding $4.5 billion from surpluses in excess of $2 billion in the two fiscal years 2005-06 and 2006-07. The money has been put into specific trust funds that each province and territory can access.

Alberta’s share of the funding is broken down like this:

• Public transit capital trust - $91.4 million
• Post secondary education trust - $101.3 million
• Affordable housing trust - $81.1 million
• Off-reserve Aboriginal housing trust - $48.4 million
  

The provinces and territories were provided with general operating principles, encouraging investments in capital and increased capacity. Possible areas of investment include:

• Public transit – rapid transit capital assets and rolling stock, Intelligent Transportation Systems, or High Occupancy Vehicle (HOV) lanes.
• Post secondary education – modernizing classrooms, laboratories and research facilities, updating training equipment, developing interactive library technologies and facilities or enhancing distance-learning technologies.
• Affordable housing – building new affordable rental units or increasing the supply of transitional and supportive housing.

Alberta getting Additional Funding for Transit, Housing and Education continued

• Off-reserve Aboriginal housing – support housing for Aboriginal Canadians living off-reserve through increased supply of rental housing, enhance opportunities for home ownership or increase the supply of transitional and supportive housing.

"These funds are a welcome investment in Alberta's infrastructure, giving Albertans the resources needed to improve transit, housing and education," said Ted Menzies. "I look forward to seeing this money put to good use throughout my riding of Macleod."

“We have a tremendous opportunity to invest in much needed infrastructure that will improve our communities and our quality of life,” added Minister Flaherty. “I encourage everyone to contact their Member of the Legislative Assembly to let them know what they would like to see on the priority list.”

The provinces and territories have the flexibility to use this money to fund any transit, post secondary education or affordable housing project they identify as a need.

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For further information, please contact:

The office of Ted Menzies at (613) 995-8471



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