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Toronto 2015 Budget makes significant investments in transit and poverty reduction

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Published on March 13, 2015 with No Comments

The 2015 recommended budget is focused on getting Toronto moving by improving transit and transportation, and making key investments to help families and support the city’s most vulnerable residents. On March 9, 2015, Mayor Tory, Councillor Crawford and City staff met with members of multilingual media for a Toronto 2015 Budget briefing. Media received a technical briefing by City staff on the budget. Mayor Tory made remarks and was available to media at the end of the briefing. “Toronto’s 2015 budget is focused on getting Toronto moving, putting families first and keeping taxes low,” said Mayor John Tory. “This budget is about investing in better transit, better housing, more jobs and an end to the gridlock that is choking our streets – all while maintaining property taxes below the rate of inflation.” The recommended operating budget of $11.4 billion delivers significant service improvements in key priorities and proposes no major services cuts, while keeping City’s finances strong. The proposed residential property tax increase is 2.25%, below the current rate of inflation. Efficiencies and other savings of $110 million have been identified for this budget, largely coming from the TTC and the Toronto Police Service. These savings will result in no cuts to service. The budget makes an historic investment of $90 million in the TTC to reduce waiting and crowding on the system. The investment will eliminate fares for children, provide ten minute or better bus and streetcar service, restore all day, everyday bus service that was cut by the previous administration, add express bus routes, and add additional subway trains during rush hour.

 

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