The STM reacts favourably to the Québec government’s budget with respect to public transit issues
Montreal, 23 March 2006 - The Chairman of the STM Board of Directors, ClaudeTrudel, expressed his satisfaction regarding the measures in favour of public transportation included in the Québec government’s budget tabled earlier today.
Specifically, Mr. Trudel welcomed the announcement that some 1.5 billion dollars will be invested in capital works. Indeed, a large share of that money will allow the STM to upgrade its métro system and proceed with the replacement of rolling stock.
The STM is also pleased with the tax incentive for businesses that will allow them to deduct the cost of monthly transit passes for employees, while not taxing the resulting benefit for transit users.
Although this measure will no doubt increase public transit ridership, it will also put additional pressure on operating costs, making the need for a new financial framework all the more pressing for the STM.
Finally, the full reimbursement of the fuel tax, which alone represents annual savings of some $ 4.7 million for the STM, is yet another step in the right direction.