OTTAWA, Ontario--(BUSINESS WIRE)--Mark Hancock, National President of the Canadian Union of Public Employees (CUPE), made the following statement regarding the Parliamentary Budget Officer's report on the Canada Infrastructure Bank:
"It's not a surprise that the Canada Infrastructure Bank has failed to launch four years into its mandate. What city or town would want to be involved in these kinds of risky, expensive schemes that put the interests of investors above those of the public?”
"Instead of pushing high-cost loans that forfeit public control of local infrastructure, it's time for the Trudeau government to transform the CIB to become what they promised in the 2015 election: a source of low-cost loans that help local governments build badly-needed public infrastructure."
CUPE is Canada’s largest union, with 700,000 members nationwide.