The Canadian Council for Public-Private Partnerships (CCPPP) commends the federal government on its commitment to predictable long-term infrastructure funding and the recognition that public-private partnerships (P3s) play a key role in delivering value for money to taxpayers.
“A 10-year commitment provides assurance that funding will be there to build Canada’s much-needed infrastructure for the long term, an essential contributor to growing Canada’s productivity, economic prosperity and global competitiveness” said Mark Romoff, president and CEO of CCPPP, a national not-for-profit organization. “The renewal of the $1.25 P3 Canada Fund and the requirement that projects applying for federal funding over $100 million go through a P3 screen, demonstrates the priority government attaches to providing value for money and protection to taxpayers.”
Established in 1993, CCPPP is a proponent of evidence-based public policy in support of P3s, facilitates the adoption of international best practices, and educates stakeholders and the community on the economic and social benefits of public-private partnerships. “[Public-private partnerships] strengthen our economy and provide Canadians with important public facilities that might otherwise not get built. With guaranteed maintenance requirements,” says Romoff, “public-private partnerships help ensure that assets last longer and cost less over their lifecycle.”
Canada currently has more than 180 public-private partnerships valued at over $60 billion. Strong federal support will help ensure Canada remains a world leader in this area and encourages Canadian companies to take their P3 expertise global.