Toronto is hoping many of the projects from its "shovel-ready" wish list will end up being favoured this afternoon when the federal Conservative government tables its budget.

On top of the list is Transit City, Toronto's proposed 122-kilometre light rail transit network.

The city has asked for money to begin construction of the Sheppard, Finch and Eglinton light rail lines.

Here are some other funding wish-list items:

  • new light-rail vehicles
  • modernizing subway stations to make them more accessible for the disabled
  • new social housing units
  • revitalizing Union Station

Other possible GTA projects include:

  • bridge improvements
  • rebuilding aging sewer systems
  • fixing up college and university buildings

Mayor David Miller isn't commenting until after the budget is delivered at 4 p.m. by Finance Minister Jim Flaherty, a Whitby-Oshawa MP. Nor is budget chief Shelley Carroll or TTC chair Adam Giambrone.

Coun. Denzil Minnan-Wong is among those saying funding of such projects is crucial to limiting the effects of the current economic recession upon Toronto.

"If you look around, the cranes aren't as voluminous as they used to be. The orders for new buildings are falling off. The economic environment in the city is hurting, so we need that money for infrastructure to create jobs, help families out and to provide economic stimulus," he said.

The federal government has been selectively releasing information in advance of the budget.

There will be $2 billion for public housing projects.

Transport Minister John Baird said Monday there will be $7 billion for infrastructure. Ontario's Finance Minister Dwight Duncan it would match any federal infrastructure funding in the province on a dollar-for-dollar basis.

Robert Fife, CTV's Ottawa bureau chief, has reported that there will be a two-year tax credit for those who want to renovate their homes.

However, in an interview with CTV News on Monday, Prime Minister Stephen Harper said there will also be tax cuts aimed at working-class and middle-class people.

Those tax cuts are to be permanent, rather than a one-time stimulus.

Liberal Leader and Toronto MP Michael Ignatieff said Tuesday he'll wait until Wednesday to decide whether or not to support the budget.

NDP Leader Jack Layton, also a Toronto MP, has said his party will oppose the budget no matter what. Bloc Quebecois Leader Gilles Duceppe has said his party will also oppose the budget.

The Tories have signalled the budget deficit for the next two years could be huge, totalling $64 billion.

With a report from CTV Toronto's Naomi Parness