“Coastal flooding could cost the global economy $1 trillion a year a few short decades from now due to the rise in sea levels caused by global warming if action is not taken now to stem the flow and Vancouver is one of the cities most at-risk for losses, says a new study.” To read the full article on the Vancouver Sun click here.
“Detroit’s emergency manager Kevyn Orr brought forth a bankruptcy filing that would give current and future retired city workers 10 cents on the dollar of pension benefits they had accrued.” “Experts feel the biggest threat to Canadian municipal pension plans is a looming bill of about $200 billion to replace aging infrastructure. If money is READ MORE
Newly updated weather benchmarks from Environment Canada show that Canada’s national average winter temperature has risen 3.2 degrees. Canada is getting hotter faster than ever before and at a faster rate than almost any other country. This also means that rain, snow, sleet and hail storms are becoming more erratic. As Canadian insurers and other economists have READ MORE
The Federation of Canadian Municipalities (FCM) is calling on the Government of Canada to develop a twenty year plan with predictable funding to fix its crumbling infrastructure. In it’s recommendations to the Governmentof Canada’s Long-TermInfrastructure Plan Consultation , the FCM is calling for measures that include long-term and predictable infrastructure funding; investment to leverage additional funds; renewal and improvements to the Gas Tax and the Building Canada READ MORE
The City of Edmonton Aggregate Recycling Programs recycles concrete, asphalt and other similar materials from reconstruction projects, private demolition and household renovations free of charge. The program provides an economical source of recycled material Edmonton then uses to construct and maintain streets and sidewalks, saving the city more than $15 million. Read more at the Municipal Information Network.
Eighty-six British Columbia Mayors are meeting in Penticton this week to discuss the increase in costs being downloaded to cities, and how they can respond. Canadian cities only receive 8% of the tax base, and as budgets get cut elsewhere, they are having to deal with more and more costs in their communities. Not only READ MORE
B.C. engineers have now expressed concern that Trade Investment and Labour Mobility Agreement (TILMA) will result in poorer public infrastructure. Read more at The Tyee .
An article in the Walrus talks about the financial decline of Canada’s economic hub. Though Toronto remains a vibrant, diverse and exciting place to live, poor economic and structural decision making have left the city with a crumbling infrastructure, service cuts, and traffic congestion that is creating frustration for everyone. With the current Mayor’s decision READ MORE
144 Manitoba municipalities have passed a resolution urging provincial parties to commit to a 1% tax provincial sales tax transfer to municipalities. The call for investment is an urgent one as infrastructure, from roads to the provision of safe drinking water, is at risk. Providing these funds will likely produce a boon to the economy. READ MORE
So far, 91 Manitoba municipalities have passed resolutions calling on provincial political parties to commit, if elected, a portion of the tax revenue the Manitoba government collects in communities to repairing and upgrading the infrastructure in those communities. Read more in the Red River Valley Echo.
The Ontario Infrastrucure Fund aims to accelerate infrastructure investments to foster a competitive environment which attracts businesses and creates employment opportunities. Projects are jointly funded by the federal and Ontario provincial governments, and ensure that Ontarians will benefits from increased employment opportunities, enhanced protection and mangement of drinking water, improved transportation safety and efficiency, and READ MORE
The Canadian Centre for Policy Alternatives is proposing a one year $ 33 billion dollar economic stimulus package that would create 407,000 new jobs, boost the economy by 3% and protect those hardest hit by recession. Unlike the contents of the Conservative’s upcoming budget, the CCPA is not propsing any tax cuts. Read more here.
The Canadian Labour Congress believes now is the time to invest at least $10 billion in infrastructure projects from public transit to affordable housing. In an open letter 80 prominenet Canadian economists called for similar measures. Read more in the Tyee.
An opinion piece from the Toronto Star, written by Martin Connell, asks, “What could $1.1 billion do for Toronto?” The Conference Board of Canada says that Toronto needs to spend this much, above the current budget, in order to start ‘getting this city back on track’. Connell argues that this isn’t a huge sum of READ MORE
A Centre for Civic Governance poll reveals “71.1 per cent of Ontarians think provincial and federal governments should provide local politicians with “more regular and more flexible sources of funds.” Read the article in the Toronto Star here .