New provincial, municipal working group to identify fix for Toronto’s structural budget problems, but Ford appears cool to new taxes
Ontario Premier Doug Ford has announced his backing for a new financial deal that would address Toronto’s perennial budget shortfalls, while appearing cool to the city’s recent push for extra taxes.
Toronto is now projecting a $1.5-billion shortfall in its 2024 operating budget. The city is prohibited by law from running an operating deficit. City staff also recentlyIn response to that staff analysis, Toronto City Councilthis month to pursue new ways to raise money, including a municipal sales tax, which would need provincial approval. On Monday, Mr.
The working group is to report back by the end of November and is tasked with promoting efficient delivery of public programs, protecting front-line services and not raising taxes or fees. Katherine Cuplinskas, a spokesperson for Deputy Prime Minister and Finance Minister Chrystia Freeland, a Toronto MP, said Monday that it was “appropriate and necessary” for the city and province to work together, but did not make any promise of Ottawa joining the effort.a request for bailout from Toronto, instead suggesting that the Ontario government is in an “excellent fiscal position” to help.
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