The Province is supporting public transit expansion for people in Metro Vancouver through a significant investment in TransLink that will mean better and more convenient service, lower emissions, and healthier, more livable communities
B.C. is contributing more than $2.4 billion to advance key transit and infrastructure priorities, including the Surrey Langley Skytrain and electrification of the bus fleet, as part of its ongoing commitment to fund 40% of the Mayors’ Council 10-Year Vision.
“We’re making investments to support a better future for people throughout Metro Vancouver with more affordable and convenient travel options, cleaner air and less climate pollution,” said George Heyman, Minister of Environment and Climate Change Strategy and Minister Responsible for TransLink. “By supporting TransLink to help provide public transit options that connect us to our communities, workplaces, friends and families, we’re building more vibrant communities with easier access to jobs, housing, recreation and services people depend on.”
TransLink’s investment plan includes actions to: maintain and expand transit service; support faster, more reliable bus service through bus-priority infrastructure; transition bus fleets from diesel to zero-emission vehicles; and increase active transportation investments. The plan will help TransLink replace more than one third of its diesel bus fleet with approximately 500 battery-electric buses and buses that run on renewable natural gas. It will also provide opportunities to build more complete, liveable communities with affordable housing and increased density around transit lines.
“It has been a challenging few years, and we thank the provincial government for its commitment to ensure transit continues to serve residents throughout Metro Vancouver,” said Kevin Quinn, CEO of TransLink. “This investment plan and the Province’s support will ensure that TransLink is on solid ground while advancing priority projects for the region.”
This new commitment builds on previous provincial funding in TransLink’s 2018 investment plan, which funded increased bus and HandyDART services, better and expanded SkyTrain service, and construction of the Broadway subway.
“The 2022 investment plan will stabilize transit funding for the region and put us in a stronger position to advance Transport 2050’s vision for a more livable and sustainable region,” said Jonathan Coté, mayor of New Westminster and chair of the Mayors’ Council on Regional Transportation. “We are grateful for the Province’s continued support for better public transit and sustainable communities across Metro Vancouver.”
The TransLink investment plan means better transit services for people and also supports the Province’s climate-change and clean-economy objectives through the CleanBC Roadmap to 2030. The CleanBC Roadmap is the Province’s plan to expand and accelerate climate action by building on its natural advantages – abundant and clean electricity, innovative technology and a highly skilled workforce. The CleanBC Roadmap sets a path for increased collaboration to build a British Columbia that works for everyone.
Quick Facts:
The Province partnered with the federal government in 2020 to provide TransLink more than $675 million in Safe Restart funding to ensure continued essential transit services for 2020 and 2021, to keep fare increases capped at 2.3% until the end of 2024, and to enable free transit for children 12 and younger.
In April 2022, an additional $176 million in provincial and federal funding was announced for TransLink for 2023 to 2025.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
