With the economic prosperity of British Columbia and Western Canada relying increasingly on global trade and our ability to deliver goods to foreign markets, the Business Council of British Columbia (BCBC) has released Building BC for the 21st Century: A White Paper on Infrastructure Policy and Financing in advance of its second annual BC Business Summit today.
The paper examines the existing infrastructure networks – including transport, utilities, telecommunications, hospitals and schools – and their
With the economic prosperity of British Columbia and Western Canada relying increasingly on global trade and our ability to deliver goods to foreign markets, the Business Council of British Columbia (BCBC) has released Building BC for the 21st Century: A White Paper on Infrastructure Policy and Financing in advance of its second annual BC Business Summit today.
The paper examines the existing infrastructure networks – including transport, utilities, telecommunications, hospitals and schools – and their essential role in connecting people, goods and information to improve the state’s collective economic and social prosperity.
British Columbia has built a solid infrastructure network, but changes in international trade flows, demographics, climate and technology will put pressure on existing infrastructure.
The white paper says a long-term, strategic and integrated approach is necessary for BC to develop greater capacity to build the required infrastructure in an efficient and timely manner.
Much of the document focuses on large economic infrastructure relating to transportation and transit. Some of the paper’s recommendations include: developing a long-term strategic infrastructure planning process in the province; creating a provincial infrastructure fund administered by a stand-alone agency; expanding the use of user fees, which may include more widespread tolling in the lower mainland; exploring the potential to establish infrastructure corridors across the province, and increasing the use of green bonds to generate funds specifically dedicated to building projects that deliver environmental benefits.
"If we want to enhance BC’s competitive position, we cannot be complacent about infrastructure,” said Greg D’Avignon, president and CEO of the Business Council. “Despite BC having made substantial investments in large public assets that have served the province and its citizens well, sustained investment in infrastructure is needed to keep BC competitive, grow our economy, enhance well‐being, and protect the environment. Just as importantly, we need to shift from processes that are hampered by individual interests and politicised approaches to governance and decision making, to one marked by timeliness, cooperation, and regional economic planning that aligns with provincial and national interests.”
The paper examines the existing infrastructure networks – including transport, utilities, telecommunications, hospitals and schools – and their essential role in connecting people, goods and information to improve the state’s collective economic and social prosperity.
British Columbia has built a solid infrastructure network, but changes in international trade flows, demographics, climate and technology will put pressure on existing infrastructure.
The white paper says a long-term, strategic and integrated approach is necessary for BC to develop greater capacity to build the required infrastructure in an efficient and timely manner.
Much of the document focuses on large economic infrastructure relating to transportation and transit. Some of the paper’s recommendations include: developing a long-term strategic infrastructure planning process in the province; creating a provincial infrastructure fund administered by a stand-alone agency; expanding the use of user fees, which may include more widespread tolling in the lower mainland; exploring the potential to establish infrastructure corridors across the province, and increasing the use of green bonds to generate funds specifically dedicated to building projects that deliver environmental benefits.
"If we want to enhance BC’s competitive position, we cannot be complacent about infrastructure,” said Greg D’Avignon, president and CEO of the Business Council. “Despite BC having made substantial investments in large public assets that have served the province and its citizens well, sustained investment in infrastructure is needed to keep BC competitive, grow our economy, enhance well‐being, and protect the environment. Just as importantly, we need to shift from processes that are hampered by individual interests and politicised approaches to governance and decision making, to one marked by timeliness, cooperation, and regional economic planning that aligns with provincial and national interests.”
