October 19, 2016 / 1:06 PM / a year ago

Canada gov't advisory group to call for infrastructure bank -report

TORONTO, Oct 19 (Reuters) - A Canadian government advisory group will this week 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.

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

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

A spokeswoman for Morneau could not immediately be reached for comment.

The 14-member advisory group includes venture capitalists, institutional investors, business executives and academics. It will deliver the recommendations to Morneau on Thursday, the story said.

Reporting by Jeffrey Hodgson Editing by W Simon

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