What’s notable about this news item is the way in which the story is presented as if this is a new phenomenon, or that a more sensible outcome might have been expected. It’s not just a matter of articulating the correct “goals”. Without price signals and the ability of investors to assess financial risk, “infrastructure” programs funded by the state will inevitably degrade into a fog of financial chaos. You’re just doing the same thing over and over while expecting a different result.
“The Liberal government’s $188-billion infrastructure spending plans continue to lag behind schedule, with government departments failing to provide adequate public reporting on the sprawling program, a new report says.
Auditor General Karen Hogan on Thursday released one of the most thorough reports to date on the progress of the Investing in Canada Plan, which found that “funds were not being spent as quickly as planned,” and that “objectives might not be met” after the full 12-year life of the program.”
Ironically, the one upside for taxpayers is precisely that the funds are not being spent as quickly as planned, and we may be better off if we actually don’t meet any of the objectives.