Joe Oliver: The Trans Mountain financial fiasco just got worse — via fpcomment
Deputy Prime Minister and Finance Minister Chrystia Freeland claimed that “As we committed to Canadians last year, no additional public money will be invested in this project as construction is completed.” Not so fast. Private-sector lenders are not usually receptive to a project whose costs are out of control and which may be unable to repay on-going interest charges or principal.
Freeland cannot target a fall guy, like she did the last time costs ballooned and she had then CEO Ian Anderson fired. She herself approved hiring new CEO Dawn Farrell. One thing we can be sure of: Prime Minister Trudeau won’t let Freeland shift responsibility up the chain of command, even though the buck — or bucks, billions of them — stop with him.
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'Horrified': Trans Mountain's latest big cost increase catches watchers by surpriseTrans Mountain says the cost to build TMX has risen 44% since the last update. Read on for what to know about the government\u002Downed pipeline.
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