VICTORIA — The New Democrats agreed to a $312 million bailout of TransLink last week, but they also planted the seed for a future showdown over a new source of funding for the troubled Metro Vancouver transportation authority. Read More
Vaughn Palmer: Finding new money for the transit agency could be a major issue in the 2028 B.C. election
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VICTORIA — The New Democrats agreed to a $312 million bailout of TransLink last week, but they also planted the seed for a future showdown over a new source of funding for the troubled Metro Vancouver transportation authority.
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The province didn’t quite admit to it publicly, however. The news release emphasized that the money would ensure stability and fund expanded bus services over the next three years.
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“The province is also committed to continue working with TransLink and the Mayors’ Council on long-term funding solutions to ensure that people in Metro Vancouver have access to the transit services they need,” was all the government news release said about future funding.
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Informed Opinion
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To find out what the province had really agreed to do, you had to read through the 29-page “discussion guide” on the new funding arrangement released by TransLink.
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“The funding included in this 2025 investment plan reduces our structural deficit by about half and ensures that we are fully funded until the end of 2027,” it read in part.
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“In addition, the province has committed, subject to approval of the legislature, to enable additional revenue source(s).”
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The new source — or sources — were “intended to begin in 2027 with full implementation in 2028 generating at least $112 million per year in new revenue when fully implemented,” TransLink went on to say.
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This year’s investment plan had already tapped perennial sources of TransLink funding. Fares will increase by five per cent. SkyTrain service from the airport would cost $1.50 more. Property taxes would increase by 0.5 per cent, the equivalent of $20 a year for median households.
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But those increases wouldn’t sustain finances beyond this year and the next two.
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“A new investment plan, drawing on increases to existing and the new revenue tool(s) will be required in 2027 to ensure that TransLink can fix the remaining deficit and make further progress on the access for everyone plan,” according to the discussion paper.
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“The plan commits to a doubling of bus service, up to nine bus rapid transit corridors, rapid transit for the North Shore, Burnaby Mountain, and UBC, building out the major bikeway network and many more investments,” says TransLink, aiming for the stars.
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“The bulk of the plan remains unfunded.”
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Never mind the federal government’s commitment, announced last month, to provide $1.5 billion in capital funding over 10 years.
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“This falls short of what is required to fully fund the access for everyone plan,” said TransLink.” “We encourage our senior government partners to partner with TransLink to fully fund the plan.”