this post was submitted on 25 Sep 2024
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Don't worry, he'll build it, make it a toll highway, and sell the rights to a foreign company for 99 years. It'll all work out, just trust me, bro!
Sounds oddly familiar... But I can't place it, so the free market dictates that this must be a good idea.
The last liberal government in Québec did that, but for a transit line (the REM).
They killed the only profitable commuter train line (DM) and literally gave it to a for profit entity (CDPQ) so they can transform it into a metro line. So now the public transit entities cannot compete with the private one, and even has to pay it royalties for something like 99 years.
I repeat, the public transit entity (ARTM) cannot compete against the for profit one, AND must pay it royalties for every passenger.
So now the ARTM doesn't have the revenues from its defunct most popular commuter line, and must pay royalties on top of that. Public money, going straight into a for profit organization.
The new light rail line was not even working in 2023 and the public already had to pay $2.4 million to the CDPQ.
And those defending that model say that the CDPQ is a retirement investment firm that is profiting Quebecers, but their goal is still to make money. Unprofitable lines will be cut or never developed, even if needed.
They are literally privatizing public transit and some people are encouraging it saying that's how we now have to build transit. It's the way of the future!
Meanwhile the public transit entity says it's not sure it can now maintain some of the other commuter lines and will have to look into cutting expenses and/or service.
Sigh...
EDIT: Source for the price the ARTM has to pay: https://montrealgazette.com/news/local-news/rem-hikes-per-passenger-payment-from-artm-even-before-it-starts-running