Transportation Investment Plan
The province has developed a three-year transportation
plan that will provide an additional $650 million direct
provincial investment in transportation infrastructure from
2003/04 to 2005/06. This will in turn leverage an additional
$1.7 billion in investment from federal, private and other
partners over the same period.
The transportation plan is based on the following principles:
- The province will dedicate revenue sources to finance
its contributions
- Provincial spending on new transportation investments
will not increase taxpayer-supported debt above previously
planned levels
- Federal cost-sharing will be sought on all eligible
projects and programs
- Additional transportation investment will be leveraged
through partnerships with private partners
A 3.5 cent per litre increase in the provincial fuel tax
will fund new provincial investment in the transportation
plan.
Investments funded through contributions from other partners
will be financed through a combination of:
- Federal cost-sharing for eligible projects
- Direct user-tolls
- Financing arrangements under partnership agreements
with private sector partners
Provincial funding for these projects will total $650 million
at the end of 3 years. Adding in partner contributions will
increase transportation investments to $2.4 billion. It
is projected that when all of these projects are completed,
a total investment of $5.5 billion in transportation infrastructure
will have been achieved.
Further information on the three-year transportation plan
can be found on the Ministry of Transportation website at:
www.gov.bc.ca/tran
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