April 4, 2012
Attention: Mayors, Councillors & CAOs
The Federal Budget 2012 was released on March 29, 2012, reflecting a $276 billion expenditure plan (an increase of $4.8 billion from the prior year) and a projected deficit of $21.1 billion
Through FCM, municipalities across Canada have been advocating for the federal government to ensure that a new long-term infrastructure plan, and a new generation of federal-municipal funding programs, are in place before the existing Building Canada Plan expires in 2014.
FCM has also been calling on the federal government to remove barriers to investment in the rental housing market to preserve construction jobs and address the shortage of affordable housing.
As outlined in the budget analysis provided by FCM, Budget 2012 commits to have a new long-term infrastructure plan in place before current funding programs end. In particular, the budget includes a $150 million commitment to the new Community Infrastructure Improvement Fund which will again see all orders of government working shoulder-to-shoulder to create jobs and invest in communities in a time of global economic uncertainty.
Other highlights include:
Budget 2012 did not include anything new to support the affordable, rental housing.
Executive Officer, Advocacy
Senior Priorities Coordinator