â€œIt is clear that the cost-benefit analysis of the Trans Mountain expansion does not add up in favour of the project,â€� said Julian. â€œThe substantial risks posed to our environment, marine life and coastal communities; the violation of Indigenous rights; and the billions of dollars for which taxpayers will be on the hook â€“ all vastly outweigh any potential economic benefits.â€�
The Liberal government has falsely taken the position that Trans Mountain entities have earned the government $70 million. What Trudeauâ€™s government has not made clear to Canadians is that any earnings presented quickly erode when we account for the interest charged to Trans Mountain for the debt incurred in funding the transaction. In September alone, Trans Mountain incurred $21 million in interest expenses.
â€œWithout using the dishonest reporting done by the Minister of Finance, the annualized earnings stated by the Liberal government actually become an annualized cost, representing a loss of tens of millions of dollars,â€� added Julian. â€œThe government purporting to report a surplus prior to the interest payment is fundamentally irresponsible. Canadians are already on the hook for tens of millions of additional costs on an annual basis. This is misleading and wrong.â€�
â€“ 30 â€“
For more information, please contact:
NDP Media Centre: 613-222-2351 or [email protected]
View release in your browser: www.ndp.ca/news/trans-mountain-expansion-risk-outweighs-potential-benefit