Feds’ economic growth council exploring infrastructure ‘institution’
OTTAWA — The chair of the Trudeau government’s influential team of economic advisers says the group is exploring an ambitious plan to create a national infrastructure “institution” to attract investor cash that will help boost the economy.
Dominic Barton, the head of the 14-member growth council, shared details of the idea Wednesday during his appearance at a Public Policy Forum conference in Ottawa.
Barton, the global managing director of consulting company McKinsey & Co., said the idea is to create a vehicle with enough independence to lure private capital that could be pooled together with public investments.
Canada, he added, offers investors the benefits of a safe, well-governed country. In return, Barton said the investments can help lift Canada’s productivity and close its infrastructure gap, which has been estimated at $500 billion.