Quebec delays money for STM
Quebec is delaying funding for STM projects while bank charges pile up fruitlessly.
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Nicholas 10:03 on 2026-05-29 Permalink
It’s weird the story keeps using “frais bancaires” when the quotes use “frais financiers” and “financement à court terme”. Bank fees read to me as overdraft, which obviously isn’t happening to the tune of tens of millions of dollars. They’re paying interest. And because these are short term loans by the STM, rather than long term loans issued by the province, the interest rate is surely higher. But at least they can make the budget deficit look artificially lower during an election year.
Hey what’s that school funding story just above about?
Joey 10:07 on 2026-05-29 Permalink
Buried at the bottom is the news that this kind of thing is no longer possible – basically projects were being approved at all levels but financing was held back for reasons… which meant that transit agencies had to borrow to finance the early stages until the full funding came through. Except that:
“De nouvelles normes de comptabilité dans le secteur public s’appliquent à la STM depuis avril 2024. Celles-ci n’autoriseraient plus le début des travaux avant les approbations officielles, comme c’est le cas du côté fédéral.”
In other words, rather than just allocate the money upfront with the other approvals, projects will be completely delayed until the mysterious budget-allocation process is complete.