Yes, what's stopping the Feds from setting up an untouchable, regardless of which party gets elected, Infrastructure Bank with about $100 billion that cities could pull from to fund expanding their transit networks? The $11 billion over 10 years proposed by the Trudeau gov't is just scratching the surface.
IIRC, it's $35B as 'seed' money, albeit that's a misnomer. It's a purse to leverage, as a working figure (and this has been established as viable in other nations' InfraBanks) 4 or 5 :1, the 1 being government money. This allows the full legal hand of the government in enacting legislation (Like the Railway Act or related, for instance) , garner the most favourable borrowing rate if needed and if underwriting a project (since governments in theory can't fail, they get extremely favourable rates, Greece notwithstanding) the government brings far more than just cash into the investment. They bring legislative power.
The trick is not to make it *absolutely* hands-off, that would be problematic too when assuming full risk, but each investment will be on a 'case-by-case basis'....but in *all cases* the project must be based on the business/economic viability.
I'm a Centrist, but I can hear the looney left already screaming about this, (as in fact they are) all the time forgetting why we have mortgages instead of paying cash for our houses, or we buy vehicles on time, rather than cash. Invested wisely, the costs are vastly outweighed by the benefits, and since political meddling throws money around anyway, best it be overseen by dispassionate, beady-eyed and cold hearted accountants and financial planners. If there is a case where the Gov't needs to intercede in the cause of humanity, then so be it, fund it directly from taxpayer coffers, otherwise, the taxpayer becomes a shareholder in a corporation that builds needed projects, and does it on-time and on-budget. And done right, we all win.
It's worked *with caveats!* very well in other nations. It's got to start working here. Canadian Investment Funds are amongst the largest in the world, and our money is going overseas. We can get it working here, much of it belonging to pensioners, so we benefit multiple times.