GREEN BONDS MAY FINANCE GTA TRANSIT EXPANSION

Apr 07, 2014

By Andy Johnson

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Experts have identified another option in Ontario Premier Kathleen Wynne’s tool chest to fund a massive GTA transit plan. So called “green bonds”, which the government plans to issue later this year, might be the answer. The bonds are a relatively new financing tool, intended to raise money that’s used exclusively to support projects with specific environmental benefits. The bonds are more appealing to investors if they have a competitive return relative to regular bonds. The experts say the downside is that the bonds have additional administrative costs. Wynne has ruled out a tax hike for middle class families to fund the transit expansion. She says taxpayers in places like North Bay will not have to bear the cost of fixing the Toronto area’s gridlock.

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