Wynne plans to spend $29B on transit but won’t divulge revenue tools yet

Global News

WATCH: Premier Kathleen Wynne announces an aggressive transit funding plan

TORONTO –Ontario Premier Kathleen Wynne still won’t say how she plans to find new money to pay for transit, although she promises new sources of cash are coming.

For now, the Ontario government has pledged to dedicate a portion of the existing gas tax to building transit, getting them about 4.6 per cent of the way toward their $30-billion goal.

The province is also floating the idea of funding transit by selling public assets. No word on what assets or how much that would bring in.

Highlights:

  • All the existing HST on gasoline and diesel will be dedicated to transportation infrastructure
  • 7.5 cents of the gas tax would go toward Moving Ontario Forward
  • The possible funds gained from selling government assets
  • Funds from previously announced Green Bonds program

“Our plan would not be funded in the increase to the gas…

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