Watch the above video: Even with TTC fare hikes, the operating budget still falls short. Mark Carcasole reports.
TORONTO – The Toronto Transit Commission has approved a fare increase beginning in 2014.
The increase consists of raising the price of a single adult token by five cents to $2.70 as well as a $5.25 “proportionate” increase to monthly Metropasses.
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The price of a Metropass will be $133.75, 3 dollars more than the expected increase, starting January 1.
A proposal to raise cash fairs from $3.00 to $3.25 for adults, $2.00 to $2.15 for seniors/students and from $0.75 to $0.80 for children has not been approved, though the TTC is still considering increasing those fairs.
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The TTC says around 70 per cent of its revenue comes from the farebox.
Factoring in these increases, the TTC currently stands 6 million dollars short of reaching their budget.
These changes must still be approved by city council before they are made official.
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