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Slumping Loonie Could Add $3.5 Billion To Cost Of Windsor-Detroit Bridge, Trudeau Told

Darpan News Desk The Canadian Press, 04 Jan, 2016 01:41 PM
    OTTAWA — The federal Liberal government will need to find $3.5 billion more to pay for a new bridge at the bustling border crossing between Canada and the United States.
     
    Documents show Prime Minister Justin Trudeau has been warned that the cost of building the new Windsor-Detroit bridge has likely gone up by at least $2 billion, thanks to the declining value of the Canadian dollar.
     
    Government officials told Trudeau the project would also need an extra $1.5 billion in a contingency fund to bear the shock of any interest rate increases should the loonie decline further against its American counterpart.
     
    The government's long-term fiscal framework has the price of the bridge pegged at $4.8 billion.
     
    The details are laid out in a secret briefing note to Trudeau obtained by The Canadian Press under the Access to Information Act.
     
    The Windsor-Detroit crossing is the busiest commercial trade crossing between Canada and the United States.

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