The TTC will not have another fare increase in 2018
After years of annual fare increases, the TTC’s 2018 budget is proposing a fare freeze.
A report heading to the TTC’s Budget Committee on Friday has outlined the transit commission’s operating budget requests for the upcoming year, which includes an additional $37.6 million from the City.
According to the TTC, the increase is based on a projected ridership of 539 million rides and would help in maintaining 2017 service levels provided to customers. It would also avoid a fare increase over the next year.
“To avoid both a fare increase and substantial service reductions while opening the Toronto York Spadina Subway Extension (TYSSE) and implementing PRESTO, a combined City subsidy increase of $37.6 million is required,” states the report. The requested budget hike is a 5.5% increase from 2017.
The TTC report states that the budget request is “a considerable reduction” from the original estimated budget reported in June, which was for $86 million. “Extensive budget and line-by-line reviews have been conducted in the intervening time period that has reduced the combined subsidy pressure by nearly $50 million,” states the report.
TTC staff say there will be no changes to services next year.
The TTC budget committee will be presented the budget on November 17, after which will be debated by the TTC Board on November 28.