Toronto Mayor Orders TTC to Trim $36.5M Shortfall, No Fares Hike

BREAKING: Toronto’s transit system is grappling with a staggering budgetary shortfall of $36.5 million, prompting Mayor Olivia Chow to direct the Toronto Transit Commission (TTC) to find immediate savings. During a press event at the Hillcrest TTC complex earlier today, Chow emphasized that fare increases will not be part of the solution, underscoring the urgency of the situation as ridership numbers decline.

The TTC’s financial woes come at a critical time, with a mayoral election looming in 2026. Mayor Chow is actively seeking to engage both current and potential riders to boost transit use. “We are counting on more riders coming in because I believe that as we increase service, as we make the TTC more reliable, people will say that is the better way,” Chow stated, highlighting the pressing need for a turnaround in transit usage.

As part of the strategy to revive ridership, there is strong support for a monthly fare cap, which would allow unlimited rides after a certain number of taps. Initial estimates suggest this could cost between $10 million and $35 million, raising questions about the TTC’s funding priorities.

Newly appointed TTC CEO Mandeep Lali asserted that the organization must operate as “lean and mean,” calling for a thorough review of operational efficiencies. “If you look at it from a budget perspective, there were $17 million, just under $20 million of efficiencies delivered, so we look at ourselves constantly,” Lali noted.

Despite receiving over $5 billion in new capital funding commitments from all three levels of government, questions remain about the effectiveness of the TTC’s spending. Councillor Ausma Malik echoed these sentiments, stating, “There is always an opportunity to take a closer look at the way the TTC is operating, also making sure that our operations are as lean and efficient as possible.”

In a potentially positive development, the return-to-work mandates from several private sector companies, including major Canadian banks, could increase ridership. Starting in January, provincial civil servants are expected to be in the office five days a week, which may lead to more commuters relying on subways, streetcars, and buses.

The situation remains fluid, and as Mayor Chow pushes for immediate action, the coming weeks will be critical in determining how the TTC navigates this financial crisis. Stay tuned for updates as this story develops, and consider how these changes might impact your daily commute in Toronto.