TransLink gets $479M from B.C. Government
TransLink gets $479M from B.C. Government
TransLink has received a financial boost from the provincial government to help fund projects and address dwindling ridership. The organization is getting $479 million of budget surplus money, which will hopefully help to prevent potential layoffs and route cuts as ridership continues to recover back to pre–pandemic levels.
The allotment of $479M will aid in keeping fares affordable, protect against service cuts, and permit future transit plans to move forward.
Ridership is currently at 82 per cent of pre–pandemic levels but revenue collection is at 75 per cent, raising concerns over the sustainability of current services. The TransLink mayors’ council had sought extra funding in the provincial budget to finance their 10–year plan, estimated at $20 billion, but were left out. The council warned that there would be major cuts to transportation services if no additional funds were made available in the next two years.
New funding model needed
In response, the provincial government has taken action with this funding stabilization to address TransLink’s short–term operating funding needs. Premier David Eby said in a statement, “Hundreds of thousands of people rely on TransLink’s service every day to get to work, travel to school, and access all parts of the region. Failing to act now would lead to higher fares, fewer buses on the road, and reduced service across the board. We won’t let that happen.”
This funding will help to support TransLink’s plan, which includes doubling buses by 2035, extending the millennium line to UBC, rapid transit to the north shore, and a gondola to SFU. The mayors’ council also made a formal request last month to the federal government for $250 million in additional emergency funds, to which the province will match. However, the province does not expect this money to come from Ottawa and is taking action with this $479 million funding instead.
Rob Fleming, Minister of Transportation and Infrastructure said in a statement, “Accessible public transit is critical for the region’s economic, social and environmental health now and into the future. The province will continue discussions with the federal government on a potential funding partnership. However, given TransLink’s significant and immediate needs, the Province is taking action with this funding stabilization to address TransLink’s short–term operating funding needs, preventing layoffs and maintaining transit services that will create jobs and reduce traffic congestion and air pollution, which benefits residents and visitors to Metro Vancouver.”