Toronto is facing a staggering opening budget deficit of $1.2 billion that necessitates major investment to address systemic issues that have compounded over the years.
Mayor Olivia Chow indicated that Toronto might need to introduce another property tax increase in 2025 to address workforce retention and city infrastructure problems.
The city faces ongoing challenges, including maintaining reliable public transport, fixing aging infrastructure, and ensuring affordable living conditions for its essential public service workers.
Chow emphasized that resolving these financial issues is crucial, stating that without sufficient funds, the city won't retain its vital workforce, including fire and police services.
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