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Myths about Jason Kenney’s so-called Economic Plan
Here’s the first myth:
Under the NDP Government, an average of $7.2 billion was spent annually on capital infrastructure. That's business as usual.
THREAD 1/ #ableg
Here’s the first myth:
Under the NDP Government, an average of $7.2 billion was spent annually on capital infrastructure. That's business as usual.
THREAD 1/ #ableg
Jason Kenney is claiming he's dramatically increased infrastructure spend to $10 billion this year... but let's unpack that.
He started with a pretty traditional Capital spend, $7 billion this year, and now he's "adding" another three billion.
But is he really?
2/ #ableg
He started with a pretty traditional Capital spend, $7 billion this year, and now he's "adding" another three billion.
But is he really?
2/ #ableg
Half of that is $1.5 billion, being spent on the KXL pipeline, where most of the jobs will be in the United States, and may ultimately be a $1.5 billion pipeline to nowhere if Joe Biden wins the Presidency.
3/ #ableg
3/ #ableg
Another $960 is an acceleration of maintenance spending.
This is smart. But it's neither game changing, or new.
It was announced 51 days ago.
4/ #ableg
This is smart. But it's neither game changing, or new.
It was announced 51 days ago.
4/ #ableg
The final "new" elements of Jason Kenney's infrastructure plan - roughly $200 million in municipal infrastructure funding - was announced two weeks ago.
So did Jason Kenney announce anything "new" yesterday? The answer is no.
5/ #ableg
So did Jason Kenney announce anything "new" yesterday? The answer is no.
5/ #ableg
More importantly, ppl will need to watch for the difference between announced spend & actual spend. Generally, gov is successful at getting between 85-90% of new infrastructure spend out the door. & Kenney made his announcements very late into the construction season. 6/ #ableg
So, in summary: this is an expected gov response. It's a good shock absorber.
We'll see if actual spent reaches the year high of over $9 billion that occurred under our Government, but let's be clear: nothing is new here, & the overall number is not a game changer. /end #ableg
We'll see if actual spent reaches the year high of over $9 billion that occurred under our Government, but let's be clear: nothing is new here, & the overall number is not a game changer. /end #ableg
