http://www.digitaljournal.com/article/302443

Toronto transit fare increase is scrapped, $24 million found

Posted Jan 11, 2011 by Andrew Moran
The possibility of a ten-cent fare hike for Toronto's transit is no longer. Toronto Transit Commission Chairman Karen Stintz announced Tuesday that the proposal is now dead.
TTC Chairwoman Karen Stintz
TTC Chairwoman Karen Stintz
Toronto transit riders were holding their breath throughout Monday hoping that city hall and the TTC would find ways to avoid a 10-cent fare hike, including an extra $5 to the monthly regular adult Metropass, which would cost Toronto residents $60 per year.
More than 24 hours after Mayor Rob Ford’s announcement at a press conference, Karen Stintz, TTC Chairman and city councillor, confirmed at a news conference Tuesday afternoon that the fare increase will not go ahead, according to CP24.
Stintz stated Monday morning: “The mayor doesn’t want a 10-cent fare increase, I do not want a 10-cent fare increase, the TTC doesn’t want a 10-cent fare increase and nobody in this city wants a 10-cent fare increase if we can find a way to avoid it.”
The new TTC Chairman explained that the city found the extra $24 million that the TTC would have raised through a fare increase. The Toronto Star reports that the city found $16 million and the TTC managed to find $8 million.
Specifics will be released when staff members release details of the found money.
Furthermore, busy routes will receive additional service and there will be no service cuts.