NDP candidate Paul Ferreira explained yesterday how the NDP would pay for the electrification of the UP Express and other GO transit lines: they will sell the government’s shares in the bailed-out GM and raise corporate taxes “a modest amount”.
At the small press conference, Ferreira also said that the UP Express “should be real public transit with multiple stops, with affordable fares. [It] is ill-conceived.” Fares, while not yet announced, are expected to be more than $20 each way.
Selling the shares in GM is not an entirely new idea; the government had already said that it would sell them to pay for provincial infrastructure. The sale of the shares would raise about $1.4 billion.
The Liberals have also promised electrification, and the NDP voted down the budget in which it was included. The Liberal plan did not call for more stops, however. The Liberals had also been filibustering a motion that would reveal how much money the line is going to lose.