NEWS
05/28/2014 02:32 EDT | Updated 07/28/2014 05:59 EDT

Karen Stintz says TTC 'surplus' should be used to hold fares steady

Karen Stintz says that if the TTC has surplus funds on its hands, that money should be used to hold down the fares that riders pay to use the public transit system.

A TTC board meeting is taking place today, at which the board was receiving a report regarding the adjusted figures for the reduced operating subsidy requirement in its 2013 operating budget. That figure now stands at $47.7 million, funds that Stintz has thus deemed a surplus.

Ahead of the board meeting, Stintz had signalled her intention to move a motion for the TTC to obtain city permission to hang onto those funds, so they can be used to keep riders’ fares down.

On Wednesday afternoon, the board unanimously adopted her motion which asked "that the board request council approval for the TTC to retain the $47.7 million surplus for next year’s budgeting purposes to avoid a fare increase for 2015."

In a statement Stintz released Wednesday, the mayoral hopeful took a swipe at two other high-profile mayoral contenders — John Tory and Olivia Chow — for what she said was silence on the surplus issue.

"While I have continued to advocate for an efficient and affordable transit system, John Tory and Olivia Chow have refused to comment on how they would allocate this substantial amount of money," Stintz said.

"Mr. Tory has repeatedly demonstrated his inability to make a decision. At the other end of the spectrum, Olivia Chow continues to make promises with no plan for how she will pay for them." 

Stintz was previously the chair of the TTC board, but she stepped down from that role before formally registering to run for mayor. But she remains on the board.

Stintz, Tory and Chow are among a handful of high-profile candidates seeking to be elected mayor this fall. Others include Sarah Thomson, former city councillor David Soknacki and the incumbent, Rob Ford.

In total, more than 50 people have registered to run for mayor. The election is on Oct. 27.

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