A new report from the C.D. Howe Institute finds that a high-speed rail link between Toronto and Quebec City could generate between $15 billion and $27 billion in economic benefits for Canadians over the next 60 years.
According to the report, the largest share of these economic gains—up to one-third—would come from user benefits, including:
Faster travel times
Increased reliability compared to VIA Rail’s existing service
Reduced greenhouse gas emissions
Less road congestion along the corridor
The high-speed network is expected to transform travel in Ontario and Quebec, benefiting commuters and businesses alike.
Government Moves Ahead with $3.9 Billion Investment
On Wednesday, Prime Minister Justin Trudeau announced that the next phase of the project is moving forward. The new emissions-free rail system will feature trains traveling at speeds of up to 300 km/h, covering a 1,000-kilometre route with stops in:
Toronto
Peterborough
Ottawa
Montreal
Laval
Trois-Rivières
Quebec City
The federal government has committed $3.9 billion over six years to develop the project.
The report also examined a slower, high-frequency rail option, which Ottawa had asked bidders to consider. However, findings suggest that a true high-speed rail line would deliver far greater economic value than the lower-speed alternative.
With a significant federal investment now in place, Canada is moving closer to joining other countries with modern, high-speed rail networks, promising faster, cleaner, and more efficient travel for millions.