The REM electric train network sparked a heated exchange at a public hearing in Quebec City Tuesday. The Parti Québécois (PQ) accused executives behind the train plan of hiding the real price tag.
The PQ wants to know how the Montreal light rail project will turn a profit. The $6 billion electric train should be fully operational by 2020. For many, it can’t come soon enough:
“Think of not having the metro of Montreal fifty years down the line; think of how Montreal would be if we didn’t have the metro. That’s how we should be seeing the REM,” said Lionel Perez with the City of Montreal.
The City of Montreal considers it one of the most important projects of our time, but the PQ said the numbers don’t add up. The project requires a $3-billion government investment.
READ MORE: Montreal’s $6-billion light rail transit project has Kirkland property owners on edge
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Quebec’s pension fund – the Caisse de dépôt et placement du Québec – in charge of the project, is promising an 8 per cent profit over the long term, which they say will repay the government. However, the opposition says the Caisse hasn’t provided a strong enough business plan: they say taxpayers are being asked to hand over billions – simply on their word. PQ MNA Alain Therrien feels so strongly about the issue it lead to him having an outburst during the public hearing and leaving during the Caisse’s presentation.
“We’re in total obscurity,” he said later, in the hallway, adding it’s like Quebec has written a blank cheque and we have no real details.
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The transport minister said Therrien’s losing his temper was unnecessary and inelegant.
“The Parti Quebecois is obsessed with the rate of return,” said Laurent Lessard. He said he doesn’t know why because a financial breakdown is available through the finance ministry.
Whether or not voters are satisfied by the numbers the government has provided likely depends on their political views.
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