For anyone who lives, works and plays in London, you know that our transit system was a major topic of discussion last year…especially around the whole rapid transit program.
Good news if you ride the bus, as the province of Ontario has increased the gas tax funding revenue that London will receive over the next four years!
Here are the highlights from the story of the impact we’ll see:
- The corporate services committee reported Tuesday that London’s gas tax funding from the provincial government increased by 7% this year to $9.9 million.
- The gas tax program provides municipalities with two cents per litre of provincial gas tax revenues.
- Queen’s Park has committed to increasing funding to 2.5 cents in 2019-2020, 3 cents in 2020-21 and 4 cents per litre by 2021-22.
- The increase in funding for the gas tax means that London will receive $20 million by 2022.
- All of the money London receives goes to the LTC with 60% covering operating costs and 40% directed to capital costs such as purchasing new buses.
- City staff say one bus takes up to 40 vehicles off the road and keep 25 tonnes of greenhouse gas emissions out of the atmosphere each year.
It will be exciting to see all that the LTC can do to make the public transit system even more effective and efficient here in London, so hopefully nobody has an experience like Weird Al Yankovic!