Nov 20, 2013
By Scott Walker
We could be paying more to ride the rocket.
The TTC Board is meeting today to contemplate a fare increase in the New Year to cover rising costs.
It would be the first fare hike in three years.
The board will consider a number of increases:
The TTC is also looking for a subsidy of $428-million from City Hall.
The commission is expecting an increase in ridership next year. Since fares only cover about two-thirds of its costs through fares, it actually loses money when more people use the system.
The TTC’s subsidy is the lowest in North America at 78 cents per rider. By comparison, New York contributes $1.16 to its transit system. Montreal pays $2.21.