The following came down the wire, and was brought to our attention by Ed Drass:
McGuinty government provides $62.3 million to City of Toronto for TTC Previous Government Promised Money But Never Delivered
TORONTO, Dec. 23 /CNW/ - The McGuinty government today confirmed that it has reached agreement with the City of Toronto to immediately provide $62.3 million to the TTC, said Transportation Minister Harinder Takhar. This $62.3 million was promised by the previous government, but was never actually paid. “The McGuinty government is committed to helping Toronto and the TTC as demonstrated by the more than $126 million we’ve provided to the TTC in the very short time we’ve been in government,” said Takhar. “We recognize the key role that transit plays in maintaining strong and vibrant communities.” The money announced today will fund the additional renewal of Toronto’s transit system, including new buses and streetcars, and will be used to upgrade transit infrastructure like subway stations. These funds are in addition to the $64 million delivered last month for the TTC’s subway safety improvements. |
This is not a permanent solution; instead, it just rectifies an oversight from the previous government which had promised the money but not delivered it, thus causing the immediate financial shortfall that might have required as much as a 25-cent fare increase to fix. This money should go some way to solving the TTC’s short term problems, until such time as the promised transfer of the gas tax kicks in.
Subscribe to our news feed: (