Ontario Premier Doug Ford and Toronto Mayor Olivia Chow will hold a joint news conference late Monday morning.
It’s likely Ford and Chow will address the interim findings of a working group formed to come up with a framework for a “new deal” to address Toronto’s ongoing fiscal troubles.
The deal is expected to help the city achieve “long-term stability and sustainability.”
Toronto is struggling with a $1.5 billion shortfall in its budget. City council is exploring a range of revenue options, including municipal sales taxes, an increase of the vacant home tax, a commercial parking levy, or the implementation of tolls—which would require provincial approval.
The premier indicated that he would not be in favour of new taxes in Toronto or handing the city a portion of the Harmonized Sales Tax.
The mayor’s office said in October that uploading the Gardiner Expressway and the Don Valley Parkway to the province was being considered by the working group.
The uploading of the Gardiner Expressway and the DVP would save the city millions of dollars in repair and maintenance costs.
The working group was expected to provide their interim report at the end of November.
View original article here Source