Never heard of the Canada Infrastructure bank? You’re not alone. Most Canadians haven’t heard of the Liberals multi billion-dollar infrastructure boondoggle.
Established in 2017, with a $35 billion grant, the Canada Infrastructure Bank (CIB) was Justin Trudeau’s pet project to fund “green” infrastructure projects.
It has failed spectacularly to do so.
Despite its generous endowment, in its first three years, the bank released only $1.7 billion in funds—almost all of which went to a single light rail project in Montreal.
You might ask, what is the point an infrastructure bank that doesn’t fund infrastructure projects?
But then what should one really expect when the minister in charge of green-lighting infrastructure projects is radical former environment minister Catherine McKenna.
What’s more, it has come to light that, despite its unmitigated failure to do what it was set up to do, CIB executives have been paid millions of dollars in bonuses, and millions more in severance checks to a myriad of former failed leaders—as one journalist quipped: “The CIB has gone through CEO’s the way ER nurses go through masks and gloves.”
According to the House of Commons Transportation Committee, in its short existence, the bank that can’t give away money for infrastructure projects has paid somewhere in the region of $3.4 million in bonuses and an additional $3.8 million in severance.
(The bank has a grand total of 80 employees.)
The last CEO of the CIB was paid a salary of $600,000 and may have received an additional $1.1 million in bonuses. All for doing… nothing.
This is an unacceptable waste of taxpayer dollars.
Not surprisingly, at a time when the Liberal Government is stonewalling on ethics issues related to the WE Charity scandal, the military sexual misconduct scandal, and the presence of Chinese military scientists working for the Public Health Agency in Canada’s most secure lab, they are also stonewalling the House Transportation Committee which is seeking answers to these latest revelations.
Sadly, this is simply another example of the incompetence, corruption and moral rot that has come to characterize the Liberal Party.
Canadians deserve better.
You deserve a government that will hold itself to the highest ethical standards and be accountable for every last tax dollar.
Canada’s Conservatives will restore ethical, common-sense government to Canada.
And we’ll get infrastructure done as well.