Special $3B fund to speed up delivery of federal stimulus money
Last Updated: Thursday, February 26, 2009 | 3:14 PM ET
The Canadian Press
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The federal government has announced plans for a $3-billion emergency fund so it can begin pumping out economic-stimulus money in just over a month — earlier than expected.
That special fund is designed to get cash flowing to projects far sooner than June, when the budget's supplementary estimates would normally be adopted by Parliament.
The money could start flowing by April if the fund receives parliamentary approval.
The announcement by Treasury Board President Vic Toews came a day after a cabinet colleague conceded that the current spending stampede could result in some waste.
Finance Minister Jim Flaherty says that while there is a possibility of mistakes, the economic situation is urgent and the money needs to flow quickly.
The government says accountability measures it has adopted in recent years are strong enough to help ensure the money gets spent properly.
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