Of course no one knows for sure. We do know that Horwath is unlikely to win a majority as the NDP is stuck in low popularity. They could hold balance of power in a minority government.
The PC government since 1995 has not supported transit at all. That may change of course but I can easily see no funding coming from a PC government for DRL and certainly can see LRT/ Smart Track funding cancelled. RER may survive in parts but electrification may disappear or PCs do damage to Toronto by merging TTC with Metrolinx or absorbing rail lines into it as Hudak suggested in 2014.
Only time will tell what PCs will offer but I am pessimistic.
It really all depends on how much ground they want to gain in Toronto and any specific area within. I understand why some still connect the current PC's to the Harris PC's, but that not in anyway a reality.
This is probably the best opportunity the PC's will ever have to change the voting landscape of the City of Toronto. They have already shown a solid commitment to gain the Scarborough voter and while the subway(s) seem to be quite safe under this admin, the future LRT's across the entire City remain big question marks at this time. All indications is they will take a "Ford" style approach to transit building. ie) Subways first (DRL(s), SSE, Sheppard(s)). And reality is these projects are where
majority of tranit support in the City of Toronto resides.
No one knows for sure, as there is also solid support for the LRT projects
currently tabled and the cost to vote ratio is pretty good for these lines. But the DRL, SSE and Sheppard have far more support then the Eglinton East/West, and Waterfront LRT's in the overall landscape of voting. This may or may not put them on the back burner and surely its all speculation at this point but its possible the full Sheppard subway could be bumped to become a next wave priority under this admin of they are taking the Ford approach.
We will likely never see a Harris style PC government in this Province on our lifetime. Hudak was the litmus test, last straw and if they ever try again once in power, they will be one term and never seen for another few decades at best. The nice thing about this changing PC climate is that the Liberals will now have some pressure to pull out the big promises to stay in power and if the PC's do happen to win I just don't see them doing any harmful damage to current overall plans and only shifting the priority of future plans and the local LRT lines would be much easier to address in the future than hesitating further on the subway lines. Guilty until proven innocent, but I'm really not as pessimistic in this climate.