Budget will set aside $15B over five years to attract private investment: source

Canada will earmark $15 billion over five years for a Growth Fund aimed at attracting private investment in new and green technologies, a senior government source said on Wednesday, a day before Finance Minister Chrystia Freeland is due to present this year’s budget.

The money being set aside for the fund will come from the “existing fiscal framework” and the government will seek to attract $3 of private investment for every $1 of public funding, the source, who was not authorized to speak on the record, said.

The finance ministry declined to comment.