The City of Toronto generates more than 20 percent of Canada’s Gross Domestic Product and 50 percent of Ontario’s Gross Domestic Product. Despite our economic strength and contribution, we find ourselves consistently short on resources to fulfill our potential as a world-class city. As the largest city in Canada and the fourth largest city in North America, Toronto has unique challenges and responsibilities that cannot be adequately supported by an operational budget that is primarily built on property taxes. As we advocate for a new fiscal framework or a “new deal”, we can learn from world-class cities around the globe. A jurisdictional scan of fiscal frameworks can help us strengthen our advocacy for the support of higher levels of government towards a more robust budget for the city of Toronto.
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