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CBC News
Posted: Apr 2, 2013 6:48 AM ET
Last Updated: Apr 2, 2013 11:33 AM ET
The Big Move, a massive package of regional transit expansion plans, will cost $50 billion over 25 years. (Canadian Press) The transit planning authority for the Greater Toronto and Hamilton area has released its list of preferred funding tools to pay for future transit expansion.
Released Tuesday morning, the list pares down to 11 the number of funding tools Metrolinx is suggesting to help cover the cost of transit expansion over the next 25 years.
They include:
- Development charges.
- Employer payroll tax.
- Fuel tax.
- High occupancy tolls.
- Highway tolls.
- Land value capture.
- Parking space leving, including pay-for-parking transit stations
- Property tax.
- Sales tax.
- Transit fare increase.
- Vehicle kilometres travelled fee.
The new tools are needed to generate about $2 billion a year to pay for The Big Move, a regional transit expansion plan expected to cost $50 billion over 25 years.
In making the announcement Tuesday, Metrolinx president Bruce McCuaig said there is growing impatience over finding a solution to the region's traffic problems.
"At our round-table meetings, we heard that there is wide recognition of the problem of congestion and there is impatience for a solution," said McCuaig. "Participants want to see more transit and transportation expansion, they understand that this requires significant investment and overall they supported tools to build new transit and transportation."
Tuesday's announcement follows the release last month of the Toronto Region Board of Trade's list of preferred funding tools.
The four measures TRBOT is put forward for "serious consideration" included:
- A regional sales tax.
- A $1 a day parking space levy.
- A 10 cents per litre regional fuel tax.
- High-occupancy toll lanes in which drivers of single occupancy vehicles would play 30 cents a kilometre.
Metrolinx will submit its final investment strategy to the province in June.
Toronto Mayor Rob Ford has said he's opposed to any new or increased taxes. Premier Kathleen Wynne has said she's open to new ideas to pay for transit, which can't be covered by existing revenue streams.
Oakville Mayor Rob Burton spoke about transit funding on Metro Morning on Tuesday. He said taxpayers are likely to support new funding measures so long as they are applied fairly.
"It's got to be feasible, accountable and implementable," Burton told host Matt Galloway. "No free ride for anybody.
"Unless it's fair, nobody is going to support it and if it's fair, I think everybody will."
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