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Decentralized Democracy

House Hansard - 28

44th Parl. 1st Sess.
February 10, 2022 10:00AM
Context: House Hansard - 28 - Feb/10/22
Ms. Jenny Kwan (Vancouver East, NDP)
  • Feb/10/22 2:14:44 p.m.
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Mr. Speaker, the cost of the TMX jumped from $4.5 billion to $12.6 billion, based on cost updates from two years ago. In the last two years, there have been significant delays in construction because of COVID‑19, forest fires and floods, failed HDD river crossings in the Thompson and Fraser rivers, and numerous environmental law violations. The commercial viability of TMX was on shaky ground before, and now things could not be worse. Using the 2018 construction costs, the Parliamentary Budget Officer noted that a 10% increase in construction costs would reduce the net present value of the TMX by $453 million to over $1 billion, and a one-year delay would reduce its value by $693 million to $888 million. There is no sugar-coating this. The white elephant is staring us in the eye. I am calling on the Liberals to come clean and provide Canadians an updated cost estimate and schedule. Full transparency and accountability are required for this boondoggle.
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