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Professional Services
August 24, 2006
Federal subway funding up in air
TORONTO
Federal funding to help extend a Toronto subway line north to York University and into the city of Vaughan is far from a sure thing, warns Finance Minister Jim Flaherty.
“There isn’t any firm money on the table,’’ Flaherty said.
In the March 23 provincial budget, the Ontario government guaranteed $670 million to the subway project with the expectation that the City of Toronto and York Region would contribute another third of the $2 billion needed and that Ottawa would fund the remainder.
When Flaherty tabled the federal budget in May, he pledged up to $1.3 billion in support of public transit infrastructure, including the subway.
But last week, he said it is just one of many possible transit projects the federal government is considering because of the “serious challenge” caused by road congestion in southern Ontario.
Flaherty said he has been having “constructive discussions” about the subway extension with Ontario counterpart Greg Sorbara — including a private meeting Aug. 14 in Ottawa — but a final decision is not expected until year’s end.
Sorbara stressed the future looks bright for the new 6.2 kilometer extension through the York campus and into the 905 area code.
“I remain optimistic that they will participate because of the importance of the project and the importance of transit in the Greater Toronto Area,” the Ontario finance minister said.
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