Ottawa, ON – The Hon. Andrew Scheer, Conservative Shadow Minister for Infrastructure and Communities, and Luc Berthold, Conservative Shadow Minister for the Treasury Board, issued the following statement regarding the Parliamentary Budget Officer’s (PBO) report on Trudeau’s Canada Infrastructure Bank (CIB):

“Today’s report from the PBO makes it clear that Trudeau’s Infrastructure Bank is a disaster and it is failing Canadians.

“In four years, the Infrastructure Bank has completed zero projects and is expected to lose billions in the coming years. Instead of building public transit, green infrastructure, clean power, broadband, trade and transportation, and helping Indigenous communities, this bank has proven to be a complete waste of money. This is the opposite of what success looks like. 

“When Justin Trudeau dreamed up the Infrastructure Bank, he promised it would unleash billions in new spending from the private sector. Instead, as the PBO makes clear, there is no private sector investment flowing to date, the bank is losing money, and it will miss its own targets by over 50 per cent. It is a lemon of an institution.

“It is time for Justin Trudeau to stop worrying about his wealthy investment banker friends and start working for everyday Canadians. Justin Trudeau must immediately scrap his failed Infrastructure Bank and put forward a plan that actually gets critical infrastructure projects built in Canada.”