The Liberals’ central election pitch was that historically low interest rates made it a good time to run public deficits to fund infrastructure. Now they’re switching to private investment.
Public, private, whatever. As long as infrastructure like bridges, ports and transit gets built, who cares, right?
The economist does. “Governments can borrow at between 2 and 3% right now. If you’re going to give the private investors what they want, it’ll be more costly,” says Caron. Institutional investors want a 7 to 9% return on infrastructure investment.
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