Toronto’s Taxing Troubles
On 22 October, Torontonians reelected John Tory to a second term in office, and with him a mandate to continue his SmartTrack transit plan, provide wide reaching incentives to developers to build affordable housing, and create a massive new park [2]. While all that is well and good, who’s going to pay for it all? Toronto will face a $388 million funding deficit by 2019, growing to $1.42 billion by 2023, and that’s not including the $30 billion in projects that have been approved, but not funded [1]. How did we get into this situation, and more importantly, how...
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