TTC proposes 2024 budget; no fare increases included

The TTC will freeze fares and increase service to 97 per cent of its pre-pandemic level as part of its proposed operating budget for 2024.

The $2.6 billion budget is being considered by the TTC board during a special meeting today.

It calls for service, which currently sits at 95 per cent of pre-pandemic levels, to be increased to 97 per cent by September.

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The TTC will also keep fares the same in 2024 after increasing the cost of cash and Presto fares by 10 cents last year.

“The TTC is the lifeblood of this City, and it needs to be properly funded if it is to truly be the better way,” Mayor Olivia Chow said in a statement.

“Frequent, safe, and affordable transit is something I have committed to supporting for the people of Toronto, and this budget makes improvements in all of those areas.”

The proposed budget aims to serve several ongoing initiatives at the commission, including increasing ridership, improving safety and security measures, and supporting employee wellbeing, staff say.

To help alleviate some of the deficit outlined in the proposed budget, the TTC said that $175 million in funding from the province has been made available through the Ontario-Toronto New Deal Agreement.

Of that funding, $100 million will be allocated to improve subway and transit safety, recovery and operations in an effort to increase ridership. The remaining $75 million will be put towards the operating and maintenance costs of Line 5 and 6.

READ MORE: Here are the highlights of the new funding deal between the province and City of Toronto

As part of their recommendations, TTC staff also asked the board to approve a year-end workforce increase of 367 operating positions and 176 capital positions.

Staff say that there will be $304 million in continuing impacts related to the COVID-19 pandemic in 2024, largely as a result of lower ridership.

That number is $60 million lower than it was in 2023 as many riders return to the system, however, staff say that there will continue to be financial impacts due to the reduced number of ‘commuter’ riders taking the TTC five days a week.

The number of frequent commuter riders on the TTC is still only at 57 per cent of the pre-pandemic norm, according to staff.

“TTC customers are coming back quicker than we expected, and this budget allows us to meet their needs for the next year,” TTC CEO Rick Leary said. “This budget balances our need to deliver safe and reliable service while addressing the increased operating costs associated with inflation and new transit lines that we need to manage.”

ADVOCATES CALL FOR NEW SUBWAY TRAINS, MORE FUNDING

In response to the proposed budget, advocates alongside city councillors are calling on federal Members of Parliament for new subway trains and more funding.

In a separate report put forth to the board Wednesday, staff warned that, without federal funding committed by early next year, the cost of ordering new trains will balloon by “at least $90 million.”

In a release issued shortly after, advocacy group TTCriders said city councillors Alejandro Bravo and Paula Fletcher, alongside a contingency of volunteers, will communicate a need for funding by performing “unusual Christmas carols” rewritten with lyrics that reflect their message. Ringing bells and wearing Santa hats, the group plans to hand out education flyers and ask commuters to contact their federal MPs while giving the performances.