Oct 09, 2012
By Michael Kramer
Toronto Mayor Rob Ford’s executive committee has approved beginning public consultations on sources of funding for public transit, including several taxes and levies.
The committee reviewed reports by city manager Joe Pennachetti and Toronto chief financial officer Cam Weldon which outline 10 sources of funding, including a one per cent sales tax, increased income taxes, and highway tolls.
The funds would go towards Metrolinx’s $50 billion regional transportation plan to expand transit in the Greater Toronto Area and Hamilton including four approved light rail transit lines in Toronto.
Other suggestions to raise money include a property tax hike, payroll and land transfer taxes, a fuel tax, vehicle tax, parking levy and development charges.
Toronto’s Mayor has made it clear that he does not support proposals to raise taxes, impose tolls or user fees to pay for expansion of transit.