The city’s budget period officially launches on Wednesday and ahead of it, the city manager and budget chief are hinting at some numbers that may shock Torontonians. The city’s budget shortfall has grown to $1.8 billion and without federal funding to match the province’s new deal agreement, a bigger tax increase could be on the table. Matthew Bingley reports.
- Mayor Chow to lower proposed tax increase in upcoming budget
- Toronto braces for potentially large tax increase as budget deliberations loom