New public transit gets Canadians to where they need to be, creates new Canadian manufacturing and construction jobs, reduces pollution and congestion, makes life more affordable, and keeps Canadians and communities connected as they grow. That is why the federal government is investing in better public transit.
Today in Toronto, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that the Toronto Transit Commission (TTC) will receive nearly $1.2 billion over the next decade through the Baseline stream of the new Canada Public Transit Fund. She was joined by the Honourable Peter Bethlenfalvy, the Minister of Finance of Ontario, the Honourable Prabmeet Sarkaria, the Minister of Transport of Ontario, and Her Worship Olivia Chow, Mayor of Toronto. The Canada Public Transit Fund is the largest public transit investment in Canadian history with $3 billion in annual federal funding provided to communities across the country.
The City of Toronto will use $758 million of this new funding to support new subway cars for the TTC's Line 2, which is a 26-kilometre subway line connecting residents from Etobicoke to Scarborough. Line 2 needs new subway cars to maintain existing service and expand to meet growing capacity needs. Investing in 55 new subway cars will help Torontonians get around quickly, affordably, and reliably.
Since 2015, the federal government has already invested over $30 billion to build better public transit in Toronto and across the country. Today's investment bolsters the government's commitment to help workers get where they need to go, all while helping put a little more money in their pocket.
