The Canadian Construction Industry says Canada’s economic success rides, in part, on laying down more reliable trade routes, through the increased investment in trade gateways and corridors.
In its pre-budget submission to the federal Finance minister, the CCA presses Ottawa to boost funding to such efforts as the Western Canada Trade Gateway and Corridor Initiative, initiated by the Western Canada Roadbuilders and Heavy Construction Association.
“In 2019, Canada’s trade-to-GDP ratio was just shy of 65%, the highest of any OECD economy,” the submission states. “As a trading nation, part of positioning Canada for success in the future is ensuring that our goods can get to global markets. But our trade-enabling infrastructure is vulnerable, as demonstrated by the global pandemic, the impact of recent extreme weather events in British Columbia and the blockades that stopped commerce between Canada and the US.”
Canada needs to significantly recapitalize its trade corridor fund for long-term, strategic investment in trade-enabling infrastructure, including the Western Canada Trade Gateway & Corridor Initiative, to drive our nation’s economic growth, the CCA recommends.
The top recommendations the national construction group makes are:
- Recommendation #1: Increase infrastructure investment
Close the gap between current planned investment levels and real existing and future needs with a consistent long-term infrastructure investment strategy.
- Recommendation #2: Invest in trade infrastructure, including the Western Canada Trade Gateway and Corridor Initiative
Recapitalize our trade-enabling infrastructure to drive our nation’s future economic growth.
Read the full submission here.