One of the surprising things about this campaign is how Mark Sutcliffe and Catherine McKenney have traded spending promises.
McKenney was perceived as the likely big spender, and while they are spending more, Sutcliffe has proved to be no slouch in that regard. Both are promising more spending on everything from police, transit, climate change and roads, to cycling, housing, social services and mental health.Article contentsome $600 million in first-term spending with revenue from projected growth, reserve funds, debt, and money from upper levels of government.
The problem though, is how McKenney plans to pay for their platform. Most of their revenue comes from reserves, future growth and debt. But can a city already grappling with a $3 billion debt afford more? And what if growth projections don’t pan out? What then?Article contentunder his leadership by between two and 2.5 per cent, in his first two years as mayor, lower than the three per cent increases we are paying today.
Sutcliffe says he’ll pay for his four-year, $145-million plan by finding up to $60 million in “efficiencies” — which means cuts. His plan also depends on money from growth projections, raising the same questions McKenney faces. If there is a recession, all bets are off.Article contentand user fees in his first year as mayor, and put a hold on major spending projects, including the $332-million Lansdowne redevelopment.
Chiarelli is the only one of the three to refrain from big spending promises, and with fewer promises to pay for, he may have some leeway in freezing taxes. His plan makes sense, but getting there would be an uphill battle. Chiarelli says he’ll find “efficiencies” — cuts — and maintains he’ll do it as he did three years in a row as both regional chair and mayor of the amalgamated city.
Whatever you think of the candidates’ financial plans, there is no doubt we’ve had a vigorous campaign of ideas. The three candidates have laid it all out, and now, you have the pick of the crop.
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