The TTC won't be raising fares next year as the global economic crisis worsens, Toronto Mayor David Miller said Wednesday as the city debates its capital 2009 budget.

The announcement comes after two years of fare hikes that have brought the price to ride on the TTC to $2.75.

While Miller admits it will put some strain on the transit commission, he says the freeze is the right thing to do.

"We're not sure what's going to happen in the economy," he says. "What we're doing today is about investing in public transit."

Meanwhile, TTC Chair Adam Giambrone says there won't be any cuts to operations but plans to expand service may be delayed.