The Toronto Transit Commission on Wednesday raised the price of a Metropass by $5.25 and a token by a nickel.
A Metropass now costs $133.75 and a token $2.70. The $3 cash fare remains untouched, reportedly because it was seen as the fare option most commonly used by the unemployed.
“While I appreciate that fare increases are never popular, the increase is limited to the rate of inflation,” said TTC CEO Andy Byford in a statement that also announced the minting of a “special task force” to lobby the province and Ottawa for increased subsidies.
If BIXI is looking for financial help from the city government, Mayor Rob Ford is not prepared to give it.
The bike share system that has been a downtown Toronto fixture for two years is struggling to cover its operating costs because of debt payments, leading city officials to suggest “restructuring” a deal that currently has the municipality backstopping a $3.9-million loan. Confidential recommendations from the head of the transportation division will be considered by the executive committee next week.
TORONTO — When Noront Resources Ltd. blared the Johnny Cash song ‘Ring of Fire’ over and over at its annual meeting in Toronto in 2007, it felt like a giant party.
Only weeks earlier, Noront had made the first key mineral discovery in McFaulds Lake, a remote Northern Ontario region that was quickly nicknamed the Ring of Fire. Excitement about the find was at a fever pitch, and companies were staking land like crazy. No one could wait to find out what came next.
On the eve of what could be a critical debate on transit funding in Toronto, Mayor Rob Ford continued to lob political threats at those who dare to debate taxes and tolls.
“If 30 councillors want to put their name to implement taxes on the back of hardworking taxpayers in the city, I’ll hold them accountable in the next election. I’ll guarantee that,” Mr. Ford said on Monday.
TORONTO — Ontario’s Finance Minister is calling for a meeting with his federal counterpart to urgently discuss public transit funding in the province.
Charles Sousa has written to Jim Flaherty asking Ottawa to participate in a discussion on how to best fund and support much-needed transit expansion in the province, particularly in the congested Greater Toronto and Hamilton Area.
VANCOUVER — Documents reveal an inert explosive device was forgotten aboard an Air Canada Boeing 767 at Vancouver’s airport during a dog-training exercise by B.C.’s transit police.
The device was missing for two days before the dog handler noticed and by the time Air Canada security was advised of the loss, the plane was on the ground in Toronto.
Most of the documents, obtained by the Canadian Taxpayers Federation, contain a series of memos between RCMP and the B.C. transit police outlining what was done to find the device.
Two days after voting to defer a debate on potential transit funding tools, a Ford loyalist has reversed his position and believes the matter should come to city council.
Councillor Gary Crawford said he has been swayed by colleagues who felt they had been denied a chance to provide input on what taxes or fees Metrolinx, the provincial transit agency, should recommend to Queen’s Park. His vote was crucial in the 6 to 4 decision to defer the vote one month.
TORONTO — Ontario will be the first province in Canada to issue so-called green bonds next year to help fund public transit expansion, Premier Kathleen Wynne said Wednesday.
The program will be unveiled in next week’s fall economic update and is an innovative tool to raise the money that’s needed to build transit across the province, she said.
“Green bonds are a great tool to raise capital for a project with specific environmental benefits,” she said.
The $12-billion Energy East pipeline announced by TransCanada Corp. Thursday is the third nation-building project proposed by the Canadian energy industry in the past dozen or so years. The Mackenzie gas pipeline that would have opened and enriched the North failed, and the Northern Gateway oil pipeline to usher new trade with Asia is in trouble.
Many lessons were learned. Big losses were suffered. Changes were made. Today, Canada can and must pull off Energy East, which would truly make the country oil rich.