Quote:
Originally Posted by ssiguy
I'm not even talking about a decline of even remotely close to 20%. I think even a 10% decline would be the extreme limit. I do, however, think a 5% decline is realistic as the students and TFW are forced out, the Metro will see it's population decline, costs continue to rise, all while the economy is slowing down.
In normal years, a 5% decline is a big deal but still manageable but these are not normal years for Translink. Translink was already warning the public about the financial mess they are in and impending huge service cuts and rising fares to have to deal with it BEFORE Ottawa did a complete 180 on it's immigration targets.
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Last October, 2023, 20,824,000 trips were taken on the TransLink system. Revenue was $56,335,600 (excluding subsidies).
There was a 2.3% fare increase this year.
This October, (2024), 21,380,800 trips were taken, revenue was $60,589,500.
Next year the proposed fare increase is 4%. If it's approved, it should add more to the fare revenue.
A few international students here or there won't make much difference. The need for more operating funds remains an issue, but fare income isn't where the longer term future shortfall is coming from. TransLink had a $50m surplus in 2024, but are projecting a potential $70m shortfall in 2025.
Currently the provincial government help fund TransLink, but the commitment runs out after the $479m promised for 2025. There's no reason to think some form of future funding won't continue, now we have a new NDP government. All bets were off if the conservatives had won.