A multi-billion dollar plan on how to expand, increase, improve and streamline public transportation throughout the GTA was released Tuesday.

The study took 30 months to bring to fruition and is an expansive plan for the future called The Big Move.

Metrolinx, the provincial agency charged with bringing all facets of public transportation in the GTA together under one umbrella, presented a plan long on intentions, but short on funding details.

"My view is the province can't afford not to do our plan," said Metrolinx chair Rob MacIsaac. "Toronto's economic success is going to be premised, very much going forward, on its ability to compete with other city-regions around the world. And when you look at what those other city-regions have done, and are doing, we are falling behind."

Some of the proposals to ease gridlock in the Toronto and Hamilton regions include:

• Converting the entire GO train line along the Lakeshore from diesel to electricity.
• Running trains from Hamilton to Whitby every five minutes.
• Install rapid transit lines along Finch and Sheppard Avenues.
• New rapid transit line to service Pearson airport.
• A new subway along Queen Street within 25 years.

Overall, it's the biggest planned public transit expansion in the GTA in decades.

But the ambitious plans come with a cost that is expected to top $50 billion over 25 years.

"We are finally playing catchup, after decades of neglecting major-league transit improvements. Other jurisdictions in North America and around the world have gotten the competitive jump on us. This plan can restore our city-region as pre-eminent in transit," MacIsaac said in prepared remarks.

At a news conference on Tuesday, MacIsaac said the province will pick up the tab in the beginning.

Funds to support the transit improvements over the first 10 years are expected to come from the province's MoveOntario 2020 fund.

But beyond that, it's not clear where the money will come from.

MacIsaac would only say municipal transit departments will also have to pay their share and that revenue sources like toll roads won't be needed, at least for now.

"Any new revenue tools would not be considered until 2013 at the earliest and only once significant improvements to the system, giving people more and better transportation choices, had been implemented," he said.

Metrolinx will sponsor public meetings over the next few months to get feedback from the public on its plans.