Cancellation of the REM: Lisée does not believe that the penalties could amount to$1 billion

News 21 March, 2018
  • Photo Agence QMI, Sebastien St-Jean
    The PQ is contesting the figures of the Caisse de dépôt et placement du Québec, which is estimated at $ 1 billion the penalties to cancel the project of REM.

    QMI agency

    Wednesday, march 21, 2018 08:58

    Wednesday, march 21, 2018 11:30

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    QUEBEC-The Parti québécois disagrees with the figures of the Caisse de dépôt et placement du Québec (CDPQ), which is estimated at $ 1 billion the penalties that a government Lisée would have to pay to cancel the project Network express metropolitan (REM).

    The leader of the Parti québécois (PQ), Jean-François Lisée, believes that the CDPQ has “garroché” this figure, without being able to “justify” or “calculate”.

    It also considers that the Fund is “engaged in the political debate”. If he considers it normal that the Fund has defended its project, Mr. Lisée believes that it should at least make proof of the amount that it is moving forward.

    On Tuesday, the PQ has announced that if it forms the next government, it would invalidate the REM to propose another public transport project, the “Grand Release”, to the extent that penalties payable would be “reasonable”.

    Mr. Lisée still doesn’t know how the PQ would be willing to pay in penalties to cancel the REM.

    “The day after our election, we will do the due diligence and actual cost of removal, and according to what is learned […] we will take a decision to change or not change the Great Release,” he said, during a press briefing on Wednesday.

    A “dangerous game”

    For his part, the minister of Transport, André Fortin, has turned to ridicule the “Big Release” proposed by the PQ.

    “The only thing that I saw that was garrochée, it is the plan of the Parti québécois, which seems to have been written very quickly on a corner table”, replied the minister Fortin, during a media scrum.

    It is also believed that the PQ “is playing a dangerous game by putting in doubt the independence of the Fund”, in particular by casting this uncertainty “in the minds of investors.”

    The construction of the REM could begin as early as this spring.