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No money for TTC this year: McGuinty

By the Canadian Press

If the city of Toronto is expecting the province to help it pay for its public transit system this year it may be in for a long wait.

Premier Dalton McGuinty said Wednesday Ontario doesn’t have any money this year to help fund the Toronto Transit Commission.

He says his government, which expects to run an unprecedented $25 billion deficit this year, has to get its own house in order first.

McGuinty says if there’s extra money available, it will be invested in his government’s highest priorities — jobs and the economy.

The premier says any hopes Toronto Mayor David Miller may have of working out a deal by December with the province to fund the TTC are “wishful.”

McGuinty says he’s not in a position to help the city resolve its funding issues with the TTC right now, but would be willing to talk about it in the future.

The mayor has said that he’d like to see a return to the funding structure that existed until the mid-1990s, when the province had a formal cost-sharing agreement with Toronto for transit costs.