TTC proposing another fare freeze in 2026, despite budget pressures

The plan to freeze fares for a third year in a row was revealed during a 2026 operating budget presentation on Tuesday.

The TTC says it is planning to freeze fares for the third year in a row, despite ongoing budgetary pressures.

The fare freeze proposal was laid out in a budget preview at the TTC’s Strategic Planning Committee this week. It comes even as the TTC proposes a one-time reserve draw of $35 million to reach a lower spending target for next year.

A single Presto fare on the TTC is $3.30, while a youth ride is $2.35 and a ride for seniors costs $2.25.

At the request of the city, the latest TTC budget includes a smaller net increase of $91 million – about $29 million less than the $120 million the 2025 budget called for in 2026.

The move comes as Toronto aims for a smaller property tax increase in the wider city budget.

It also comes amid lower-than-expected ridership numbers.

The TTC is projecting about $50 million less in passenger revenue than previously projected for 2025, with passenger revenue down $30 million year to date. The latest budget projects 23.4 million fewer rides than anticipated for 2025.

Overall, the service expects to spend about $15.5 million more than planned in its operating budget this year, though it expects to come in about $214 million under in its capital budget.

Looking forward, however, staff estimate the transit service is facing a $6.1 billion backlog in state-of-good-repair funding through 2035.

The 10-Year Capital Budget & Plan calls for some $16.6 billion to be spent on overhauling aging vehicles, crucial subway and surface track replacement, replacing and fixing equipment and facilities, and to advance work on major capacity improvement projects on lines 1 and 2.

2026 budget includes money for lines 5 and 6

The TTC says its $3 billion 2026 operating budget will spend an additional $13.8 million to increase service hours and $11.2 million to meet Wheel-Trans demand.

The 2026 budget also includes $171.9 million to operate Line 5 (the Eglinton Crosstown) and Line 6 (the Finch West LRT).

The TTC recently announced that Line 6 will open on Dec. 7, while the opening date for the much-delayed Eglinton Crosstown remains murky. The 2025 budget also included operating money for the Crosstown, but that money was reallocated since the line never opened.

The TTC says the 2026 operating budget will also invest in maintenance and safety and prepare for the city to host part of the the FIFA World Cup.

The TTC Board will consider the 2026 budget on Dec. 10 before submitting it to the city as part of the wider budget process, with a final vote on Mayor Olivia Chow’s budget expected at city council in February.