Toronto Transit Commission announces new fare of "5 cents more than you have on you"
TORONTO, ON—The TTC announced its latest fare hike this week, and Toronto mayor John Tory revealed at a press conference this morning that the new cost of travel will be exactly five cents more than whatever amount of money you currently have on you, no matter that amount.
"It's flexible – that's part of the beauty of it," said the mayor. "We want a pricing structure that's applicable to Torontonians of all income levels. So if you have 34 cents on your person, you're looking at a 39-cent fare. But say you have $10,000 in cash in your pocket—you're looking at a $10,000.05 fare, which you won't quite be able to cover."
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"You can search your pockets to see if you can come up with that extra fare," he added. "But of course if you do, that will become the new baseline, and you're on the hook for 5 cents above that. As I say, it's a very flexible system."
TTC CEO Andy Byford is hopeful that this will be the last price hike required for several years, but makes no promises.
"Will we find it, at some point, necessary to raise the fare to 10 cents more than people have on them? Perhaps—you always have to consider inflation. But I'm hopeful that this new solution can work for quite a while. It should be more than enough. Literally."
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