Internal government documents say a new infrastructure bank could free up billions in new money for social services Canadians regularly use — provided the new experimental institution meets its lofty financing goals.
The presentation, prepared for the economic growth council advising Prime Minister Justin Trudeau and his cabinet, shows transit and water projects going through the bank could mean more federal dollars for social infrastructure like child care, recreational facilities and seniors' centres.
The documents suggest social infrastructure funding could increase by one-third if the bank meets its target of leveraging $4 in private investment for every $1 from the federal government.
The documents, obtained by The Canadian Press under the Access to Information Act, illustrate the government's thinking on how money could move around within the government's long-term infrastructure program to meet the Liberals' economic and political goals.
Sources say Wednesday's budget will unveil more details of how easily the money will flow and outline more clearly where the funding for the bank will come from.
Concerns have persisted that the funding would come out of existing pots of money that have already been earmarked for cities and provinces.