Ontario’s Fall Economic Update to Address Infrastructure and Alcohol Project Costs

The Ontario government will release its fall economic statement Oct. 30, shedding light on the costs associated with several large-scale initiatives, including dealing with gridlock on Toronto-area roads. Finance Minister Peter Bethlenfalvy described the financial strategy as the “latest step in our plan to rebuild Ontario,” in an Oct. 16 video posted to social media. A series of substantial infrastructure developments has been announced by Premier Doug Ford in recent months, including building a tunnel expressway under Highway 401. While Ford has not released any figures associated with the proposed project, a smaller-scale tunnel in Boston cost upward of $14 billion. With interest, the 2.5-kilometre stretch of underground road actually climbs to $22 billion, an amount that will not be paid off until 2038, according to a more recent estimate....