Overview
- The Office of the Parliamentary Budget Officer released a report on Oct. 1, 2026 that estimates construction costs of the proposed Toronto–Québec high‑speed rail line at between $75 billion and $113 billion.
- That PBO range is higher than the $60 billion to $90 billion figure publicly cited by the government and Alto, reflecting different assumptions about route length and international per‑kilometre comparators.
- The budget office singled out costly engineering risks, including a proposed 15‑kilometre Mount Royal tunnel under Montreal and rock blasting through the Canadian Shield, which could drive large overruns.
- The PBO’s construction figures exclude operating and maintenance costs, and the office says it will publish a follow-up report focused on ridership revenue and long‑term operating expenses.
- Alto says it views the PBO range as broadly consistent with its working estimate and will refine route choices, costs and an initial business case due in the first half of 2027, a process that will shape approval, expropriation and local impacts.