With all due respect, Colin, that would not be a smart way of doing thing. Not to mention - considering it would be more expensive - it would smack of political interference in the economy at taxpayer's expense, solely to "justify" Churchill's existence.
As I have indicated before, Churchill may have made some sense for shipping grain to Europe, but in practice, where the NW Passage is concerned, the navigational passages in the Arctic are such that it's just as long to travel at points in the Arctic to/from Churchill as it is to travel to/from St-Johns, or Sept-Iles, Qc. Once you are in Sept-iles, it's only four or five hundred nautical miles more to go to Quebec City or Montreal harbours. Considering most of the stuff consumed in the Arctic in terms of materiel, and a large portion of the food, come from Quebec and Southern Ontario, it makes no economic sense to somehow transport it all to the Peg, then rail it up North to Churchill, just to save those few extra hundred Nautical miles.