Statement by TTC Chair Josh Colle on the TTC’s 2018 budget
The following statement by TTC Chair Josh Colle was issued on February 13, 2018:
Last night (Feb. 12), Toronto City Council approved the TTC’s 2018 Operating Budget and 2018-2027 Capital Budget, setting the stage for a more affordable transit system for its riders, one that sees funding dedicated to reduced crowding, and one that sees investment in new vehicles, technology and state-of-good-repair.
City Council also approved the 2018 Wheel-Trans Budget, with a subsidy of $143 million, $750,000 more than in 2017. Ensuring all Torontonians can continue to rely on its transit system remains a TTC Board priority.
With a $32-million subsidy increase over 2017, to $578.8 million, City Council approved the following as part of the TTC’s overall 2018 Operating Budget of $1.9 billion:
- No fare increase in 2018.
- A two-hour time-based transfer.
- A fare pass program to help make the TTC more affordable for low-income Torontonians.
- An additional $3 million to add capacity across the network and reduce overcrowding.
The 2018 budget also accounts for the first full year of operating the Line 1 extension to Vaughan Metropolitan Centre.
On the capital budget, $6.5 billion is being invested over the next 10 years in things like:
- The new McNicoll bus garage, which will open in 2020 at a cost of $181 million.
- The acquisition of new buses over 10 years at a cost of $534 million, which includes diesel, hybrid and electric buses.
- $864 million for continuing signal upgrades (Automatic Train Control) to Line 1 and Line 2.
- $5.3 billion for state-of-good-repair, which represents 82 per cent of the total capital budget.
I would like to thank my fellow TTC Commissioners, Council colleagues and TTC staff for working so diligently on a budget that is sustainable, affordable, but above all else, good for the people of Toronto and our loyal and patient TTC customers. Maintaining and building a transit system is not something that happens overnight; it requires long-term planning and investment.
This budget, coupled with the TTC’s next Five-Year Corporate Plan and Ridership Growth Strategy, is good news for Toronto. The entire city, whether daily or infrequent riders, relies on the TTC to get the people of this great city to where they need to go safely, on time and reliably. As Chair of the TTC, my commitment to our customers, and the 15,000 men and women of the TTC, is to continue investing in this vital service.
Office of TTC Chair Josh Colle
February 13, 2018