Liberals refuse to spend on highways in Canada; CPP goes full speed ahead on building roads in India

Although the Liberal Environment Minister Steven Gilbeault has mused he won't spend money for more Canadian roads, the Canadian Pension Plan is putting millions into such projects in India.The Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP) have an ongoing investment in an infrastructure trust sponsored by the National Highways Authority of India (NHAI).In late March, the CPPIB and OTPP announced a new capital raise, contributing $297 million and $298 million, respectively. Their total respective investments stand at $614 million and $606 million.“Our follow-on investment in [the trust] deepens our commitment to this highly scalable platform, which has an important role to play in the continued expansion of the Indian road network,” said James Bryce, CPP managing director in a press release.In a separate release, Debapratim Hajara, managing director of infrastructure and natural resources Asia-Pacific at the Ontario Teachers’, said OTPP is glad to continue investing in high-quality Indian roads.“The country’s road ecosystem is an important driver in supporting India’s economic growth and we are delighted to continue our partnership with the NHAI," Hajara said.According to its website, the CPPIB's mandate is to maximize profits and minimize risk as it invests its $590 billion in assets. "CPP Investments is guided by an independent Board of Directors, operates at arm’s length from federal or provincial governments, and is managed independently from the CPP itself," the site explains.Regardless, the investment of money from a federal Crown corporation to build highways abroad contrasts federal policy at home. In February, Guilbeault said Ottawa would stop building roads. After Conservatives and some premiers gave a backlash, Guilbeault said he only meant large and expansive projects."Of course we're funding roads. We have programs to fund roads," Guilbeault said, according to the Montreal Gazette."There will be no more envelopes from the federal government to enlarge the road network," he clarified."We can very well achieve our goals of economic, social and human development without more enlargement of the road network."Quebec's proposed 3eme lien ("third link") to connect Quebec City to Levis via a highway tunnel solely for public transit will apparently get no federal help. This, even though Guilbeault emphasized federal goals to get people out of cars and onto public transportation, bikes, and their own two feet.According to CBC, Conservative Leader Pierre Poilievre called Guilbeault a "radical," while MP Mark Strahl said Guilbeault's comments were "outrageous.""This isn't something many Canadians do without. To simply say we're not going to allow any federal money to go into that is extreme, it's divisive and it's right in line with what this government does," Strahl said."But we should expect that from a guy who scaled the CN Tower, climbed on top of a premier's house and was led away in handcuffs. That's the kind of extremism that he's about," Strahl said, referring to Guilbeault's past activism, which led to arrests for stunts.Guilbeault said money that used to go to roads is "better invested into projects that will help fight climate change and adapt to its impacts."Alberta Premier Danielle Smith said Guilbeault was "tone deaf.""Most of us can't just head out the door in the snow and rain and just walk 10 kilometres to work each day," Smith said, as reported by CBC."He's losing credibility every single day. I don't know why his caucus and his cabinet is putting up with it — that's something they will have to deal with internally."Ontario premier Doug Ford, who called Guilbeault "a real piece of work" and an "extremist" before last February, said on Twitter ("X") that Guilbeault's road policy left him "gobsmacked.""He doesn't care that you're stuck in bumper-to-bumper traffic. I do. We're building roads and highways, with or without a cent from the feds.".The Ford government had promised a new Highway 413 to ease traffic between Vaughan and Brampton. In 2021, the federal government made the project subject to Ottawa's impact assessment and its stringent and lengthy environmental review.The premier warned Liberal MPs would lose seats if the project was rejected, as happened with MPPs in 2022 provincial elections."Just look at what happened when Highway 413 worked out for the Liberal and NDP candidates right here in Brampton — they all got swept because they didn't agree with 413," Ford said.

Liberals refuse to spend on highways in Canada; CPP goes full speed ahead on building roads in India

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