In letter to Chow, Freeland puts Toronto budget bailout on province’s shoulders
TORONTO — Deputy Prime Minister Chrystia Freeland says it's the Ontario government's responsibility to help backstop Toronto's pandemic-ravaged finances, offering no new federal dollars in a letter responding to Mayor Olivia Chow's request for help.
Freeland, who is also the federal finance minister, says it's the federal government's"firm expectation" that the province will do so. City staff have pegged the shortfall in next year's budget, absent further support, at up to an estimated $927 million.The Financial Accountability Office of Ontario has projected a provincial budget surplus of $10.6 billion by the 2025-2026 fiscal year, more than the government-forecasted $4.4-billion surplus.
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