Transport Canada announced Thursday it will provide $4.9 billion in funding for rail and bus transport over the next five years.
The funding is part of the $11.4 billion plan to upgrade and modernize Canada’s rail network and improve passenger services, as well as create new rail routes and connect new towns.
The announcement comes on the heels of a $2.6 billion investment plan announced in May to upgrade the rail network.
Transport Minister Lisa Raitt said Thursday the new funding will cover “every single project that’s needed.”
The government also announced an additional $7.5 billion over the coming decade to help provinces and territories connect to the country’s rail networks, including $2 billion for the Trans-Canada Highway and $2 million to support the new High Speed Rail.
The money will help pay for infrastructure projects such as upgrades to the Northern Ontario Transitway, the new Mainline Regional Expressway, and the Eastern Mainline, which runs from Quebec to Ottawa.
The government says the new investment in infrastructure will help reduce the need for trains on busy roads.
“With the addition of $4 billion over five years in funding to support transportation solutions across Canada, we are investing in our nation’s infrastructure while delivering the quality of life Canadians expect and deserve,” Raitt told reporters.
She said the government is also investing $2 per $100 of GST to help pay down the national debt.
The Liberals also announced a new, $2-billion infrastructure package, aimed at improving the safety and reliability of the countrys roads, bridges, tunnels and other infrastructure.