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TTC

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I'm doing my part by stockpiling tokens...I know I'm totally part of the problem. It's very hard not to when you know you're guaranteed an 11% return on your investment.

The poor TTC. Getting beat up for raising fares. Trying to fill in a $106M gap next year. The 25 cent increase it expected to bring in $45M. What are they supposed to do? They just can’t win. Even with increasing ridership over the recession, they’re losing money.

I was surprised to learn that the TTC provides the most rides per capita in North America yet it has one of the lowest subsidies among North American transit systems.
Apparently New York’s transit system gets a US$1.71 subsidy per ride compared to CAN$ 0.59 per TTC ride. (A ride on NY subway is US$2).

I stumbled upon this fascinating report written in 1958 looking at the problem NY had with their transit system because they originally had a mandate to be self-sustaining.

“…The Authority is currently losing over $2,000,000 a month…the 15-cent fare cannot possible be continued…This imminent fare increase will accelerate the continuing downslide in riding of subways and buses. In fact, the drop in riding from the increase alone will be so sharp that it will immediately wipe out close to half the additional revenues the higher fare should bring in…[U]nder the rule of the self-sustaining fare, there will be another hike to 25 cents and then to 30 cents in a few more years, with even greater declines in riding.”

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Written by Tilak Dutta

November 18, 2009 at 3:07 pm

Posted in TTC

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