Statistics Canada spells out infrastructure renewal needs
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AI Article Summary
Statistics Canada reports that despite spending over $31 billion on renewing infrastructure in 2022, nearly $294.4 billion is needed to bring all public infrastructure assets to good condition. Transportation infrastructure requires the largest share of these funds, especially in rural areas. Only 11% of the required renewal budget was allocated in 2022, leading to a decline in assets rated good or very good. The report highlights significant investment needs in various sectors such as roads, bridges, tunnels, and public transit.