TTC Fares To Go Up, Mayor Tory Announces Additional $53 Million Budget
Mayor John Tory has announced an additional $53 million for TTC in its 2023 budget. Fares will be increased by 10 cents and the mayor said this is a way to “keep both riders and hardworking frontline TTC employees safe.” Tory recently announced a $48.3 million budget in order to improve the Toronto Police Service.
The announcement came early Wednesday morning when Mayor John Tory shared that the general fares will increase by 10 cents. This is a 3.1 percent increase which Tory says is “well-below inflation.” Fares for seniors and monthly pass users will be unaffected and kids under the age of 12 will continue to travel for free. TTC will receive a $53 million budget for 2023 which will include hiring 50 more TTC special constables along with 10 additional Streets to Homes outreach workers.
“As you know, the TTC receives its operating money principally from two sources the fare-paying passengers and a subsidy that is given by the taxpayers of the City of Toronto through the city budget. That subsidy for this year will go up by $53 million, which represents a 5.8 percent increase in a time that is very challenging for city finances,” Tory said.