Province announces $29 billion transit funding plan
Premier Kathleen Wynne made a major promise to fund transit in the Greater Toronto and Hamilton areas today at Queen's Park. As part of a 10 year plan that would involve a $29 billion investment in provincial transportation infrastructure, the GTHA would receive as much as $15 billon of funding for projects like new subways, roads and bridges. That sure sounds promising, but where exactly the full sum of this money will come from has yet to be revealed.
While Wynne did announce that the province would redirect all HST collected on fuel taxes as well as an additional 7.5 cents per dollar of the gas tax to levy the funds required for transit expansion, that still leaves a lot of money to come from other sources. Specifics are promised in the spring budget. What do you think? Is this a promising step towards improving transit infrastructure in and around Toronto?