Today, Premier Kathleen Wynne announced the Ontario
government's plan to build a seamless and integrated transportation network
across the province -- Moving Ontario
Forward -- to create jobs, boost productivity and help every part of Ontario
grow and prosper.
The robust plan would put in place dedicated and substantial funding for public transit and transportation infrastructure. It would make nearly $29 billion available over the next 10 years for investments in priority infrastructure projects across the province such as public transit, roads, bridges and highways. The province would create two dedicated funds - one for the Greater Toronto and Hamilton Area (GTHA) with up to $15 billion available for investment in transit and one for the rest of the province with nearly $14 billion available for investment in roads, bridges, transit and other critical infrastructure.
Funding sources for Moving Ontario Forward would include new revenue measures, repurposed revenues and a responsible level of debt financing, when needed. Measures would include:
- Repurposing the existing Harmonized Sales Tax (HST) that is charged on the current provincial taxes on gasoline and road diesel.
- Redirecting 7.5 cents of the existing gas tax. This would be over and above the permanent two cents that goes directly to municipalities to fund transit infrastructure.
- The value resulting from a review of key government assets would go to the proposed Trillium Trust and be directed towards this plan, as would;
- Proceeds from the previously announced Green Bonds program.
Modernizing public infrastructure is part of the government's economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario's greatest strengths -- its people and strategic partnerships.