CUPE will denounce the Bank’s privatization of infrastructure project before Finance and Transportation Committees

OTTAWA, ONTARIO -Representatives of the Canadian Union of Public Employees (CUPE) will visit the federal Parliament today to denounce the proposed Infrastructure Bank of Canada contained in the budget bill Omnibus C-44.

CUPE is the central player in the national opposition movement. According to CUPE, this Liberal plan will increase the cost of infrastructure projects. The Infrastructure Bank of Canada will also result in secret agreements and the dilapidation of public funds to the private sector.

CUPE National Economist Toby Sanger will make a presentation to the Finance Committee of the House of Commons and researcher Sarah Ryan will appear before the Transportation Committee. In March, Mr. Sanger’s research showed that the government’s project is likely to double the cost of building infrastructure projects because of the high interest rates of private funding. As proposed, the bank will result in large-scale privatization of public infrastructure and a significant increase in tolls and user fees charged to citizens.

“The Liberals have promised to provide low-cost funding for the infrastructure we desperately need. They also promised to be transparent and not to introduce omnibus bills. The Liberals have just broken those three promises. And to add insult to injury, they limit to one day the public hearings on this project that commits $ 35 billion in public funds. “Said Toby Sanger.

Mr. Sanger’s research also shows that the Liberal government has the means to create a public infrastructure bank that would provide low-cost financing and keep our infrastructure under public control, as it was committed to.

CUPE is the largest union in Canada. It has 643,000 members across Canada.

Source: Canadian Union of Public Employees (CUPE)