Canada government advisory group to call for infrastructure bank: report

TORONTO (Reuters) – A Canadian government advisory group this week will recommend the creation of an infrastructure bank and urge increased immigration to stoke economic growth, the Globe and Mail reported on Wednesday.

Citing unnamed sources, it said Finance Minister Bill Morneau’s Advisory Council on Economic Growth will call for a 50 percent boost in immigration to 450,000 people annually over five years as well as easing the entry of highly skilled and entrepreneurial immigrants.

A spokesman for the finance minister declined to comment.

Other recommendations include the creation of a new department to entice foreign direct investment and the establishment of an infrastructure bank, the report said.

The proposed bank would be “arms length” from the government, the article said.

The Liberal government, which was elected a year ago on a plan to spend more to revive the economy, included in its platform a plan to establish an infrastructure bank that …