We need the money,’ TTC considering opening physical merchandise store to bring in revenue
The TTC is considering opening a physical merchandise store in an attempt to bring in non-fare revenue.
It took John Tory only six weeks to break his first promise to Toronto voters, but the mayor’s flip-flop on transit fares appears to have won over some of his critics.
Tory had promised to freeze TTC fares during his first year in office. The mayor reversed course on Monday, announcing a 10-cent increase for tokens taking them from $2.70 to $2.80 each. Provided the plan receives council’s approval, the cost of a monthly Metropass will rise to $141.50.
The fare hike is expected to bring in an estimated $43 million this year.
“I’ve got to give him credit. He’s made a prudent decision,” said Coun. James Pasternak, who had spoken out against the planned fare freeze. “It’s good for our fiscal health, it’s good for young families, and it’s good for the TTC.”
Pasternak said the move to free trips for children will result in savings elsewhere. The Toronto District School Board, for example, will no longer need to buy roughly $2.5 million in TTC tickets for students.
Although she’d prefer to see money raised through additional property taxes as opposed to a fare hike, Coun. Paula Fletcher said Tory’s announcement is “good news.”
“I think things are always more complicated than they seem,” she said. “He’s measured it and thought about it, and I don’t have a big problem with him changing his mind.”
Tory’s about-face didn’t sit well with everyone.
Former mayor Rob Ford accused Tory of being “disingenuous,” while transit advocacy group TTCriders said the fare increase will disproportionately affect lower-income riders.
“That group of people is having to foot the bill for TTC operations,” TTCriders chair Brenda Thompson said.
The TTC is considering opening a physical merchandise store in an attempt to bring in non-fare revenue.
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