Some of you have likely heard that a University of Toronto report found that the City of Toronto doesnt have a spending problem. For what its worth, while Ive yet to read the full report in detail, I believe this to be correct. Enid Slack is one of the foremost scholars on municipal finance, so Im inclined to trust the findings of this report (though I will do my due diligence, of course). Given the enormous cost of infrastructure and expansion, the City needs more revenue. Failure to pay for needed infrastructure maintenance and expansion now will lead to much higher costs in the future. What I would contend, though, is that Torontonians are over-taxed by the federal and provincial governments. Leaving aside inefficiencies elsewhere, the federal government collects 1/3rd more revenue than it requires to fulfill its constitutional obligations. The provincial government has also done a lot to erode housing affordability and run-up electricity rates, which has been enormously burdensome to Torontonians. Like it or not, there really isnt a lot of gravy to be found at the municipal level. The City needs more revenue tools, and upper levels of government should collect much less revenue. I trust the City of Toronto to fund services much more than nation-wide voters. Infrastructure projects shouldnt require the agreement of three levels of government with diverse voting bases and often contradictory agendas. Mike from Canmore doesnt know which transportation projects make the most sense for Toronto, and he probably wont vote to pay for them, even if they make sense.
Posted on: Thu, 14 Aug 2014 19:39:25 +0000
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