There’s a New Deal between Toronto + Ontario
I’m proud to see the progress Mayor Olivia Chow has made in partnership with Premier Doug Ford on a historic New Deal for our City – a significant accomplishment within her first 6 months in office.
This deal significantly reduces the pressure the City faces in the 2024 Budget. Ultimately, Torontonians will see this reflected in better services and reduced pressure to increase property taxes in 2024, the main revenue tool the City has at its disposal.
With a focus on long-term financial stability and sustainability for Toronto, the Province has made commitments to:
Transit – through funding for the TTC to build back ridership + increase safety, including 55 new trains for Line 2.
Shelter – through additional support for non-refugee shelter and homelessness prevention, conditional on new federal support for refugees + asylum seekers.
Regional Transportation – by uploading the Gardiner Expressway and Don Valley Parkway. With an estimated 40% of trips on the Gardiner originating outside Toronto, this will appropriately put the Province in the driver’s seat for infrastructure that serves the region.
In exchange, the City has made significant commitments to building housing (including affordable housing + Transit-Oriented Communities), building the infrastructure to meet the needs of our growing population, and supporting community safety and economic recovery for businesses.
This deal recognizes Toronto’s unique financial pressures, and economic value to Ontario + Canada. I am thrilled the Province is committed to staying at the table long-term, and encouraged to see the Federal Government has joined.
I look forward to similar commitments at the federal level.
Only together can we build a sustainable, world-class city, province, and country.
Read more about the full terms of the New Deal here.
