doady
Senior Member
The City gets around $160M annually from the Ontario Gas Tax. In 2012, $91.6M in gas tax funding was used for the TTC's operating costs, and $75.0M was used for the TTC's capital costs, so that's $166.6M total for the TTC in 2012.
So with Hudak's promise to cancel the gas tax funding, TTC will have to find another $167 million. With just over $1 billion coming from fares, then all they have to do is raise fares 16% to make up the difference.
Or the city can increase property taxes to raise $167 million.
Yeah, of course. Which is a large part of why a certain prominent 905 mayor has endorsed the Liberals and criticized Hudak. Tim Hudak as premier would result in huge increases in property taxes and/or huge cuts to municipal services. He's Mike Harris 2.0.