Macquarie Group

One would be hard-pressed to find a single government forecast for the Sea-to-Sky highway project ($195 million over its first estimate), the Port Mann or the South Fraser Perimeter Road that has been met.
B.C. may still see an LNG plant, but as for that $1 trillion in economic activity and $100 billion prosperity fund the only step left is to call time of death. There's an upside for the government. The public never bought the hype in the first place.
With news last week that all but one of Metro Vancouver's mayors have given a firm thumbs down to the B.C. government's proposal for a 10-lane, three-kilometre bridge to replace the George Massey Tunnel, it's a good opportunity to take a step back and give this idea more than a quick once-over.
"Where's the growth going to come from?"
A Canadian dollar that's worth little more than half a U.S. dollar was unthinkable just months ago.
You would think Ben Franklin was working in public procurement when he coined the phrase "take time for all things: great haste makes great waste." It's one possible explanation for why the Port Mann Bridge/Highway 1 improvement project more than doubled in price from its original estimate of $1.5 billion to $3.2 billion.