If cash or tokens are your method of payment for the TTC, be prepared for lighter wallets come January.
The TTC has voted to raise the cost of tokens by 10 cents to $2.95 and cash fare by 25 cents to $3.25. This will be the first time the cash fare will be increased since 2010.
However, prices on Metropasses will remain the same.
The TTC made the decision at a board meeting on Monday to
address a $58.4 million budget shortfall for 2016.
“I think we’ve taken a pretty balanced approach by freezing Metropasses,” TTC Chair Josh Colle said following Monday’s vote.
“I think that considering that the cash fare has been unchanged for the better part of a decade, and we are trying to transition people away from cash, that that was a fair balance.”
Despite this increase, the TTC will still have a $35 million deficit. How they will find the money to fill that shortfall in the budget remains unknown.
History of TTC fares from 1921-present: