TTC's 2023 budget invests in safety and cleanliness while maintaining fares for key groups
Today, the TTC Board approved its operating and capital budgets for the coming year. The budgets will deliver service based on new, post-pandemic ridership patterns. The budget also invests millions in new safety and cleanliness measures.
"The budget approved today will ensure that the TTC can continue delivering service over and above ridership levels and increase service to communities that need it. This budget invests in safety across our transit system and works to keep fares affordable for seniors and our most vulnerable residents. I am confident that this budget will help to improve reliability, safety, and cleanliness of public transit for all Toronto transit riders.” said Toronto Mayor John Tory.
“The 2023 budget approved today gives us the ability to meet the needs of our customers,” said TTC Chair Jon Burnside. “This budget balances our need to deliver safe service while managing lower revenues and increased operating costs associated with inflation and new transit lines. I want to thank the TTC staff for preparing this budget.”
The TTC board approved a 10-cent fare increase on single cash and PRESTO rides while freezing fares for seniors, Fair Pass program users and those with PRESTO monthly and annual passes. Revenue from this fare increase, in addition to the City’s proposed subsidy to the TTC of $958.7 million, will go toward ensuring the system is reliable, safe and accessible for all Torontonians. The 10-cent fare increase will come into effect on April 3.
“Transforming the TTC to meet future population and ridership growth is at the heart of our long term capital plans,” said TTC CEO Rick Leary. “The TTC will keep Toronto moving as we come out of the pandemic and our ridership patterns keep evolving. Most importantly, we will continue to be there for those who need us most.”
The TTC’s budget goes to the City of Toronto for final approval by Council in the coming weeks.