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Highway 407: ouch!
407 International holds a 99-year lease of the Highway 407
Spokespersons for privatization use Highway 407 as an example of "a successful P3 project". In May 1999, when Mike Harris and his conservatives privatized the highway for 99 years, driving on off-peak hours cost only 7 cents per kilometre. Today the same drive costs taxpayers 13.10 cents per kilometre. This is an increase of over 87%. Every year it used to cost a person $1,092 to travel 60 kilometres five days a week, it now costs a whopping $2,043, over $950 more. And the price could go up even more. On July 10 th 2004 , an arbitrator ruled that the 407 ETR can raise tolls whenever they want. The only winner in this deal was the private sector.
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