Federal investment plans including the Canada Infrastructure Bank should be looking for new ways to fund and finance projects that drive up productivity of existing assets. To start, it can create incentives for efficient infrastructure use by favouring projects that are designed to make better use of existing infrastructure. But to be even more bold and effective, it can “pay for performance”: by allocating funding based on achieving specific and measurable outcomes, rather than on arbitrary funding formulas. Carpooling rates are one example of a measureable outcome.
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