Toronto-Quebec high-speed rail project could cost more than Ottawa’s estimate, PBO says
A report from Canada's Parliamentary Budget Officer estimates that a high-speed rail line between Toronto and Quebec City could cost up to $113-billion. This figure significantly exceeds the preliminary estimates provided by the Crown corporation managing the project.
Why it matters
The discrepancy in cost projections raises questions about fiscal oversight and the economic viability of large-scale national infrastructure projects.
A rendering of the proposed first high-speed rail line between Quebec City and Toronto. The PBO's analysis does not attempt to estimate the project's operational cost. Supplied
The construction cost of building a dedicated high-speed rail line between Toronto and Quebec City could be between $75-billion and $113-billion, according to a new report from Parliamentary Budget Officer Annette Ryan.
The PBO’s range is higher than the one regularly cited by Alto, the Crown corporation responsible for the project, which has said construction will cost between $60-billion and $90-billion.
Alto has said its range is a preliminary estimate that will be further refined and updated next year.
The PBO report released Thursday is based on a review of international examples of the per-kilometre cost of building high-speed rail.
Both the PBO’s figures and Alto’s estimates only include the cost of building the new line.
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