From Nationalpost · · 1m
High-speed rail project faces cost shock
Canada's high-speed rail plan costs up to $113bn, far exceeding government estimates.
In brief
Canada's high-speed rail plan costs up to $113bn, far exceeding government estimates. Canada's high-speed rail from Toronto to Quebec City will cost $75-113bn, not $60-90bn, according to the Parliamentary Budget Office. Originally reported by Nationalpost.
Pipeline announcement and rail cost update
Thursday's Alberta pipeline announcement coincided with a high-speed rail cost estimate update.
Pipeline benefits versus rail costs
The pipeline boosts oil exports, jobs and economic confidence while the rail project faces massive cost overruns.
PBO report contradicts government estimate
The Parliamentary Budget Office estimated the Toronto to Quebec City rail line would cost $75-113bn, not $60-90bn.
Political reaction to cost estimate
Conservatives pledged to cancel the rail project if given the opportunity while doubters questioned the project's viability.
PBO's role and credibility
The Parliamentary Budget Office provides independent financial analysis to Canada's Parliament with a history of challenging government projections.
The takeaway
Canada's high-speed rail from Toronto to Quebec City will cost $75-113bn, not $60-90bn, according to the Parliamentary Budget Office.
