Traffic congestion already costs Metro Vancouver around $1 billion a year, and will rise to $2 billion a year by 2045 if the region fails to accommodate one million more residents in transportation planning, according to a new study.
The study was completed by HDR Consulting for TransLink's Mayors' Council. Regional mayors have proposed raising the provincial sales tax by 0.5% in Metro Vancouver in order to raise local government's share of funds for a $7.5 billion transportation plan. The plan includes more bus service, three light rail lines for Surrey, a subway along part of Vancouver's Broadway Corridor and replacing the Patullo Bridge.
The costs of gridlock include lost productivity, the cost of running vehicles and pollution. The HDR study found that if the transportation investments outlined in the mayors' plan were put into place, the cost of congestion would be reduced by 33%.
A previous study by the Business Council of British Columbia found that congestion was costing the regional economy between $1.65 billion and $2.25 billion every year. According to a BC Trucking Association study, truckers have had to spend 30% more time to complete each trip. That has cost the economy $750 million a year.
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