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February 19, 2003 - NEWS
ICBA welcomes budget commitment to build B.C.'s infrastructure
Burnaby, B.C. – The Independent Contractors and Businesses Association has welcomed the government’s increased budget to build and upgrade the province’s infrastructure, with over $2.5 billion earmarked for capital spending – an increase of $330 million from last year.
Planned expenditure for capital projects in 2003/2004 include $820 million by BC Hydro, $407 million in the education sector and $203 million for health care facilities.
“The government’s fiscal plan over the past year has now allowed them to make major investments to meet the province’s infrastructure needs,” said Philip Hochstein, executive vice-president of the ICBA. “This is good news - not just for the construction industry, but for every region of the province.”
Hochstein said part of the answer to British Columbia’s infrastructure and public service needs lies in future public-private partnerships and called on the government to move boldly on P3s.
“Public-private partnerships may be the most viable way to meet the need for roads, hospitals and other key infrastructure and facilities, while saving costs to the taxpayer,” Hochstein said. “It’s a model that’s working well around the world and the government needs to take advantage of the investment dollars waiting for P3 opportunities.”
Hochstein also said that dedicated funding for the planned infrastructure projects will help those in the construction industry better plan their future work, including the huge capital investments required for things like equipment and machinery.
“We are in a very capital intensive industry and construction companies need to plan and budget ahead,” Hochstein said. “Today’s provincial budget allows our members to look ahead with a little more certainty and that’s always a good thing.”
| ICBA is the voice of BC's construction industry. For further information, or if you have any questions or comments regarding this article, please contact ICBA. |
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