MLI Munk Senior Fellow Philip Cross joined BNN Bloomberg to discuss the issues surrounding major infrastructure projects and government accountability. He says that officials always exaggerate the benefits and underestimate the costs of a project, leaving Canadians in the dark about the reality of their progress.
"It's remarkable how government never learns," says Cross. Projects routinely run well behind schedule and well over budget "and yet, we tolerate governments lying to us like this."
According to Cross, projects often look good on paper, but they fall far short of promises when implemented. There are multiple causes for this phenomenon, but Cross attributes them to a both political motivations and the notion of sunk costs.
"By the time the final bill arrives, [the original politicians] are out office anyways," Cross explains. "No one is held accountable for all this."
Watch the full clip here.
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