In February 2022, the federal government announced that the cost of the Trans Mountain pipeline expansion project (TMX) had soared to $21,400,000,000, and Canadians were told “the government will spend no additional public money on the project” and “the project remains commercially viable.” New analysis by economist Robyn Allan disproves both claims and shows how the federal government is hiding Trans Mountain’s compromised viability.
Trans Mountain’s full financial picture is being hidden from Canadians. This report digs into and pieces together financial information on Trans Mountain from the Canada Development Investment Corporation (CDEV) and other sources – and a very different picture emerges than the one presented by the government. These sources tell us that Trans Mountain has not been profitable since Ottawa bought it; Trans Mountain is not commercially viable; and, this lack of profitability and commercial viability means more than $17 billion in debt owed to Canadians will not be repaid. Debt forgiveness is looming.