"The Toronto Transit Commission is asking for a larger subsidy from the city for its 2026 budget, which freezes fares and introduces fare capping, as its CEO warns the transit agency is becoming increasingly reliant on help from Toronto. The TTC's proposed $3 billion operating budget requires $1.48 billion from the city to work, an increase of about $94 million compared to 2025, the TTC board heard Wednesday."
"While the city subsidy would represent almost half of the budget, the TTC would also drain $35 million from its reserves to keep fares down nearly half of that pot of money. Only about a third of the budget would be covered by fare revenue. I must be candid about the challenges we face, said Mandeep Lali, who is presiding over his first budget as TTC CEO, at the board meeting."
The TTC proposed a $3 billion operating budget for 2026 that requires a $1.48 billion city subsidy, about $94 million more than 2025. The plan freezes fares and introduces fare capping, and would draw $35 million from TTC reserves to limit price increases. Fare revenue is projected to cover only about one-third of operating costs. TTC leadership cites a structural fiscal imbalance caused by rising costs, lower-than-expected fare revenue and slower ridership growth. Return-to-office trends and reduced student pass sales depressed revenue, while the 2026 FIFA World Cup is expected to boost ridership.
Read at www.cbc.ca
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