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By AmIMissingSomething? (anonymous) | Posted June 01, 2015 at 08:51:46
A lot of the commenters seem to be missing the point of this article. The author isn't saying that LRT is expensive, rather they are pointing out that the way that the government now chooses to fund projects creates issues that are both expensive and take away much control from the local government and public at large.
P3s are not a necessity, especially in a time when the cost to carry debt has never been cheaper. Infrastructure projects like this do not need to be 100% funded through P3s because in reality the government can borrow money at a better rate than any private company. P3s unnecessarily raise the cost of projects and cause government to overpay for infrastructure for long periods. The only reason p3s are the preferred method of funding is because it allows governments to use accounting tricks to help balance budgets.
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