The PBO recently released this report which shows where the ISF (Infrastructure Stimulus Fund) is going and how much has flowed (insofar as he is able to track it). Couple of things of note – Value of approved projects 4.7 billion, Federal portion 1.7 billion, work done to date just 345 million, actual cash that has flowed 23 million (includes provincial share).
So after almost one year less than 1% of the “stimulus” has reached the pockets of any taxpayers – as of Sept 2009! (1,700,000 divided by 23,000 / 2)
Some extract from the report (2mb pdf) are shown below. The report also includes individual reports for each province.
The principal objectives of the ISF were to stimulate economic growth and “to create jobs”. The government has yet to provide a performance reporting framework to assess the success of the ISF in achieving these objectives.
The PBO has received basic project data on all of the ISF projects approved as of September 22, 2009, as well as the first set of quarterly recipient progress reports as of September 30, 2009, and has undertaken an assessment of these datasets.
The September data indicate approved applications totalling 3,035 projects in Canada valued at $7.4 billion with an average value of $2.5 million per project. The total approved federal contribution from the ISF is indicated to be $2.8 billion. With regard to the type of projects, more than two thirds of the money has been dedicated to projects related to highway and regional transit, local roads, water and wastewater.
The first dataset (the applications dataset) was received by PBO on November 6, 2009, and contains application information from 3,035 individual projects in all provinces and territories for which applications had been approved as of September 22, 2009.
The second dataset (approved claims dataset) was received by PBO on November 20, 2009 and includes data on 1,643 of the 3,035 projects identified in the first dataset, for 9 provinces (data for Quebec is unavailable) and 3 territories for which claims reports were filed.
A longtime rural resident, I use my 60 plus years of life learning to opinionate here and elsewhere on the “interweb” on everything from politics to environmental issues. A believer in reasonable discourse rather than unhelpful attacks I try to give positive input to the blogesphere, so feel free to comment upon rural issues or anything else posted here. But don’t be surprised if you comments get zapped if you are not polite in your replys.