TORONTO COULD FREEZE SPENDING, RAISE PROPERTY TAXES

Aug 23, 2012

By Scott Walker

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Summer is winding down, and Toronto politicians are looking ahead to next year’s municipal budget.

The City’s budget committee has to find savings of $200-million to balance the books. It’s about half a billion dollars less than they had to find last year.

The committee is planning to implement a budget freeze on all city departments.

There could also be a property tax increase in the offing. Mayor Rob Ford is in favour of an increase next year of 1.75%. That would be followed by a two-year freeze.

 

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