New Revenue Tools to Support Transit Infrastructure
The government will be guided by a number of principles when it comes to new transportation and public transit investments, and the revenue that will be raised to pay for them.
Transportation needs vary across the province, and new investments should reflect the needs of different communities and regions.
New revenue generated from transportation-related activities should be dedicated to transportation projects in a clear and transparent manner so that the investment is directly tied to measurable results.
Any new revenue tool should not unfairly impact one type of commute or community over another.
New revenue tools should enable choice among the different transportation options available, while encouraging the use of public transit.
New transportation investments must be tied to smart city- and region-building and efficient land use planning, and endeavour to accommodate each region's changing population in the most efficient way possible.
These principles will help guide the Province's deliberations after it receives Metrolinx's June report on revenue tools for public transit investment in the Greater Toronto and Hamilton Area (GTHA).
Recognizing the growing challenge of congestion in the GTHA, the Province created Metrolinx in 2006 to lead the coordination and delivery of a transportation plan, The Big Move, for this critical region. Metrolinx has estimated the capital costs of projects under The Big Move to be $50 billion. There will also be associated financing costs and, as these projects come into service, they will require ongoing funding to maintain and operate over their lifetime.