rbt
Senior Member
My deepest conspiracy theory is that money is actually tight, and work may be quietly getting slowed or deferred in the interest of cash flow. It's one thing to promise the network, but QP is running close enough to a balanced budget that it would be politically tempting to choke off spending until the eventual election. Let the coffers flow as planned, and that very important bragging point would be forfeited. Ford has done enough dumb things (like spend money on beer in corner stores) that may have taken a bite out of available cash. Just me being gloomy, but not necessarily illogical.
Balancing the budget is independent of capital spend. Interest on the debt shows up in future years, but not the capital spend; selling capital items (like highways or the hydro system) doesn't work as a tool to balance the budget for a single year anymore either.
If Metrolinx has cash-flow issues for capital projects then it's because Ontario is holding back on issuing debt; with rapidly falling interest rates that's not a terrible idea for a year.
EDIT: Worth mentioning, if Ontario's credit rating is considered borderline then that would be a reason the province might hold back on issuing debt for capital projects. Doesn't show as a deficit in the budget but a credit rating drop would hit the news cycle hard.
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