The federal infrastructure bank takes a glass half-full approach to privatizing municipal water systems
So water will replace oil & gas as the new money maker in years to come. And of course we'll have to pay for the privilage of being able to drink privatized water. Am I missing something?
In turn, its five-year plan notes the CIB is also considering ways to make users pay to fund its projects. It reads it will:
As PressProgress reported previously, the plan has been sharply criticized by the Canadian Union of Public Employees, which notes it risks locking municipalities into expensive arrangements with private financiers who gouge small communities with big user fees.
The Infrastructure Bank’s CEO even admits the scheme will see money flow from the pockets of ordinary citizens to big companies, telling a business magazine “users will fund the bulk of the operations and of the returns to investors through user-fees and other revenue mechanisms.”