Mes alertes 
The Société de transport de Montréal (STM) is releasing its 2025 budget, which totals $1.8 billion. Thanks to the efforts of its partners, the STM is able to present a balanced budget and confirm that the current level of service will be maintained in 2025. The 2025–2034 capital expenditure program, also released today, details investment needs of $25.8 billion, with $10.7 billion earmarked for métro asset maintenance so that the STM can continue to offer safe, reliable services and extend the lifespan of its infrastructure and equipment, especially in the métro network.
Back to a balanced budget in 2025
“I would like to commend all public transit stakeholders, who, in recent months, have worked tirelessly to address the funding challenges. Solutions involved a greater municipal contribution, the 2025 financial framework signed with the Quebec government, and the increase in the motor vehicle registration levy by the CMM,” says Marie-Claude Léonard, CEO of the STM. “These measures, together with our significant spending cuts, have allowed us to maintain our current level of service. That being said, we are far from our ideal scenario of expanding our services to make public transit even more appealing,” she added.
Here are the highlights of the budget:
A balanced budget
The STM has committed to capping its growth in spending to three percent annually for five years, starting in 2026. This has already been achieved for 2025, with a spending increase of only 0.2 percent compared to the 2024 figure.
In addition, for the first time since the pandemic, the STM closed its fiscal year without a revenue shortfall to be made up in the coming year, meaning a balanced budget in 2025.
The budget increase is primarily the result of a concerted effort to improve passengers’ sense of safety in the métro by hiring security employees and maintenance employees. Another $5 million was allocated to the maintenance of AZUR cars to ensure their long-term viability.
Continued optimization
Last year, the STM committed to reducing recurring expenses by $100 million over the next five years without impacting service levels. Of this target, a total of $36 million in savings has already been achieved. The STM will pursue its commitment by generating an additional $16 million in recurring expense reductions in 2025.
Same service offering
The STM will cover just as many kilometres in 2025 as in 2024, a tremendous accomplishment given the current financial context. But with ridership currently at some 1.1 million trips per workday, the STM wants to go even further and increase its service offering to maintain the appeal of public transit and meet growing customer demand.
2025–2034 capital expenditure program prioritizes asset maintenance
“Asset maintenance remains the most pressing need detailed in the capital expenditure program. Keeping our existing infrastructure safe and in good working order should be considered a precondition for any further development of the public transit network explains Éric Alan Caldwell, chair of the STM’s board of directors. “Of the $10.7 billion in investments required, only $800 million is currently included in the Québec Infrastructure Plan (QIP). This is critical since implementation depends on investments being including under the QIP,” he adds.
The shortfall in investments earmarked for métro asset maintenance is already close to $6 billion. Indexed investments of $560 million for métro infrastructure alone are needed to keep the deficit from growing. That sum does not include the money needed for rolling stock, related infrastructure, and the surface network.
Here are additional highlights from the capital expenditure program in terms of investments needed:
- $7.2 billion for the Blue line extension
- $10.7 billion for asset maintenance, with $3.5 billion to start replacing MR-73 cars and related infrastructure
- $1 billion for universal accessibility projects
- $5 billion for electrifying the bus network
“Important decisions need to be made soon to make sure the métro can continue to take Quebecers where they need to go and help the province’s economy thrive. We are in active discussions with our funders to find sustainable solutions. The goal is to rebalance available funding over time, prioritize the most critical asset maintenance projects, and continue to advance other important initiatives, including the electrification of our bus network,” says Mr. Caldwell.
Budget (in French only)
Programme d’immobilisations (in French only)
Présentations aux médias (in French only)