It's a possibly. I wouldn't say it's very likely. The forces are really working against people who want a Sheppard Subway extension
1. Chances are that the Liberals will be reelected with a minority or even a majority. They have said that the current plan is to continue with SELRT.
2. Come October, chances are that our next mayor will be pro-LRT with a pro-LRT council. Would the province go ahead with a Sheppard Subway without support from the mayor and council? Maybe. But it would be unprecedented. I wouldn't say its particularly likely.
3. What are the chances that they'll be a byelection in ridings that the SELRT passes through? Not very likely
4. Unlike the Scarborough Subway, there is absolutely no good cost/benefit argument to be made for the Sheppard Subway. At least with the Scarborough Subway we could say that 14,000 pphpd is decent. No way that the same argument could be made for Sheppard's pathetic BRT level of usage. Now I suppose that in the case of a byelection the Liberals could ignore this and build the subway, but the certainly isn't a good thing for the people that want it built.
5. Where the heck will the money come from to build this
6. IIRC, the process for awarding contracts for SELRT will begin shortly. That makes a cancelation that much more unlikely.