Highway 407: The Road Ontario Sold Too Soon

Every morning, Toronto highways turn into parking lots — 401, DVP, Gardiner — all packed with cars. But there’s one road that stays clear: Highway 407. No traffic, no waiting, but there’s a catch — you have to pay.

In 1999, the Ontario government sold the newly built 407 Express Toll Route for $3.1 billion to a private consortium led by Spain’s Ferrovial and Canada’s SNC-Lavalin. They didn’t just sell the road. They sold everything — toll rights, operations, and all future profits.

Today, that highway is worth an estimated $30 to $35 billion and earns more than $1.5 billion a year. Fully automated and privately controlled, it became a money machine — fast for those who can afford it, off-limits for everyone else.

With tolls ranging from $30 to $50 per trip, it’s now more expensive than gas or groceries. Meanwhile, public highways like the 401 remain jammed. In 2024, Premier Doug Ford proposed a new tunnel under the 401 to ease congestion — raising one question: why build another billion-dollar road when we already sold one that works?

The 407 is more than a highway. It’s a lesson. When public assets are sold for short-term gain, the real cost comes later — in lost access, lost control, and lost opportunities.