If the Société de transport de Montréal (STM) welcomes the $400 million in emergency aid provided for in Québec City’s budget, the amount is not enough to revitalize public transport, the chairman of its board of directors judges.
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“In our view, the amounts provided are insufficient to drive a revival of public transport, which is necessary for the ecological transition,” said STM President Eric Alan Caldwell on Wednesday.
The Girard budget plans to invest 13.4 billion US dollars in public transport services.
In addition, $400 million in emergency assistance will be provided this year to avoid transportation service cuts.
Of that, $340 million will be set aside for the Autorité régionale de transport métropolitain (ARTM), which manages funding for metropolitan transportation companies.
At this time, the STM does not know how much it will receive, but remains confident that this will be enough to cover its $60 million budget deficit in 2023.
However, Mr Caldwell believes the money will not be enough to make new investments.
“We need to get our Montreal subway and then make sure it can be the lever to develop new structuring projects in the east,” he added.
In his opinion, however, public transport should not be seen as an expense but as an investment. The ARTM shares this view.
“Every dollar invested in public transportation generates a multiplier effect of more than 2.5 in economic benefits,” the organization said in a press release.
The absolute essentials
For the mayor of Montreal, the $400 million in aid is the “necessity”. “The help will allow us to save the furniture before we further affect the service, something we don’t want to touch,” Valérie Plante said during a morning news conference.
Ms. Plante recalled that for more predictability, Quebec must offer a five-year funding plan.