It is being reported that Mayor David Miller has promised a freeze on transit fares for 2009. This is bound to put a real squeeze on TTC revenue, but freezing fares seems to be the right thing to do given the economic crisis gripping Toronto...or was that Canada? Ok, Ok...we all know they are one in the same.
Miller is quoted in the Toronto Star as stating "The economic situation has been nothing short of unpredictable. The scope of what we're witnessing is unprecedented and worldwide."
Toronto City Council is also grappling with the same budget woes affecting most Canadian cities. Too many expenses and too little revenue. Remember, cities only collect 8 cents out of every tax dollar collected in Canada.
Will the COPE councillors in Vancouver call upon Translink to follow Miller’s lead and freeze fares for next year? Tough to see how that would fly given the financial situation Translink is facing in the next few years.
The Star is also reporting that Councillor Denzil Minnan-Wong and other opposition Toronto city councillors are asking Miller to divest itself of some city assets in order to re-allocate those dollars into the construction of new roads. Check out Star reporter Vanessa Lu’s full report by clicking below: