Ontario will release $400M for TTC, GO
The Ontario government will announce $400 million in new transit funding today to help the TTC maintain its fleet and GO Transit expand its service.
Finance Minister Dwight Duncan will make his fall economic statement this afternoon in the legislature, where he will announce a cash infusion for public transit.
Duncan will disclose $300 million will be earmarked in "state of good repair" funding for transit systems across Ontario, including the TTC.
That much-needed maintenance money will go toward fixing tracks, signals, and switches, and is the first trickle of the $17.5 billion touted for GTA transit in the Liberals’ Move Ontario 2020 plan for the next decade.
In addition to that, $100 million will go toward Metrolinx — known until last week as the Greater Toronto Transportation Authority — for regional transit.
The transportation authority has been asking the province to help the TTC with $424 million over the next five years to help with a new automated signal system, add trains and crossover tracks on the Yonge line.