Public Transit, Privatization and the Canada Infrastructure Bank | Global Research - Centre for Research on Globalization

Public Transit, Privatization and the Canada Infrastructure Bank | Global Research - Centre for Research on Globalization:

From Canada:

"The Canada Infrastructure Bank (CIB) will create a pipeline of privatization for our public transit systems. Corporations will be able to extract long-term profit from public transit fares and public subsidies.  Our governments subsidize public transit because it’s critical infrastructure for our communities: to get us from place to place, to reduce traffic congestion, and to green our environment. When we allow corporations to plan, finance, operate, maintain and own public transit, we funnel ridership fares and government funding into corporate coffers. The CIB will give unprecedented control and decision-making power over our public transit infrastructure to private sector investors. This means the public interest will take a back seat in transit planning and development. Many of our public transit systems in recent years have been built using public-private partnerships (P3s). The CIB will open the door to even further privatization, allowing profit to drive public transit planning and decision-making."