Metrolinx Releases Investment Strategy

Metrolinx Releases Investment Strategy

Posted on May 27th, by Move the GTHA in Discussion, Reports & Studies. No Comments

Metrolinx, the provincial agency responsible for overseeing transportation development in the Greater Toronto and Hamilton Area (GTHA), has unveiled their Investment Strategy. The report, titled “Investing in Our Region Investing in Our Future,” includes a series of 24 recommendations to fund and implement the $34 billion in proposed Next Wave projects of the Big Move. In the report, Metrolinx proposes four investment tools to be specifically dedicated to transportation:

  • A 1% increase in the Harmonized Sales Tax (HST), which would raise approximately $1.3 billion annually
  • A $0.05/litre regional fuel and gasoline tax, which would raise an estimated $330 million annually
  • A business parking levy on off-street, non-residential parking spaces, which would raise an estimated $350 annually
  • Development charges, for an estimated $100 million annually

In combination, these four investment tools would raise the annual $2 billion required to fund Next Wave projects. Metrolinx goes on to recommend three additional investment tools, due to their positive policy benefits:

  • High occupancy toll lanes
  • Pay-for-parking at transit stations
  • Land value capture

Issues of transparency and accountability are incorporated into the recommendations, including the creation of a Transportation Trust Fund and adjusting the composition of the Metrolinx Board of Directors. The report also includes a Mobility Tax Credit, to ensure investment tools do not disproportionately affect lower-income citizens.

Read the full report or visit the Big Move website for a summary.

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