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The other $29 billion is for the entire country spread over the next 10 years (~$ 3 Billion/year). While it sounds like a lot, it's not as much as you think from a public transit infrastructure perspective.
The city has about 7.5% of Canada's total population and 9% of it's urban population. It seems unlikely that it will only get 3.3% of this fund.

Though other big contenders like the GO Milton RER-like and the VIA HFR could get good chunks of Ontario's portion.
 

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