TTC considering fare hike in 2016 to help pay for $95M shortfall

TTC riders might have to dig a little deeper to ride the rocket next year.

On Tuesday, the transit commission's budget committee said it's considering a fare hike in 2016 to balance its books.

The TTC is projecting a $95 million dollar shortfall next year and will be looking to riders to help foot that bill.

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It presented eight potential fare hike scenarios at Tuesday's meeting. They include an extra five cents per ride to 25 cents per cash ride, and "a fare increase spread across all fare media."

"No one wants fare increases," TTC CEO Andy Byford said. "I'd love to be able present a budget that doesn't require a fare increase but, realistically, I don't think that's going to happen.

"The bigger the subsidy we get from general taxation, the smaller the need for a fare increase," he said.

Byford says that despite an expected increase in ridership, the cost of running the TTC is likely to be more than what it will receive in subsidies to pay for it.

Coun. Shelley Carroll says "we're hoping it's slightly smaller rate increase than last year, but the bottom line is we've added services."

Linda Thompson, a transit advocate, says the TTC needs to be funded properly if "we really believe in public transit, especially when we're talking about congestion all the time.

"We shouldn't be punishing people for doing the right thing."

The TTC last raised cash fares in 2010, from $2.75 per ride to $3. The last token increase came in March.

The TTC is the least subsidized mass transit system in North America.