Ontario government ‘in conversation’ with Hwy. 407 over potential buyback

From a tunnel under the 401 to ripping out bike lanes, the Ford government has proposed several different ways to potentially ease congestion in the GTA.

And now a common one has resurfaced: buying back Highway 407.

Minister of Transportation Prabmeet Sarkaria confirmed Thursday the government has “been in conversation with the 407.”

“We will continue to find ways to make life more affordable for Ontarians and ensure they can get where they need to go every day. This includes looking at all options and building the critical infrastructure we need to keep up with our growing population,” read the minister’s statement.

Finance Minister Peter Bethlenfalvy said he has not looked at the numbers at this point, but said, “We’re always looking at ways to impact, first of all, people’s pockets, but also to fix gridlock.”

Opposition NDP Leader Marit Stiles reiterated her party’s stance that the government should make the 407 toll-free for commercial truck drivers.

“That will have the immediate effect of relieving congestion on the 401,” she said.

“We’ve looked, we don’t see any indication that they’re actually having those conversations. I don’t know what they’re waiting for. This seems pretty straightforward to me.”

The Mike Harris government sold Highway 407 in 1999 for $3.1 billion to a consortium that included SNC Lavalin, Quebec’s provincial pension fund, and Spanish company Ferrovial.

The Canada Pension Plan Investment Board now owns 50.01 per cent of 407 ETR, the organization which runs the tolled highway.

The province still owns a 22-kilometre stretch on the highway’s eastern flank and drivers pay a significantly cheaper toll than the private portion of the highway.

The Ford government has already banned tolls on all Ontario major highways, except for the 407 and last November, the province announced it was uploading the costs of the Gardiner Expressway and the Don Valley Parkway in a new deal with Toronto, freeing the city from the costs of maintaining the two major highways.

With files from John Marchesan and The Canadian Press