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October 30, 2007
Mayor David Miller comments on Federal economic statement
"I'm disappointed with Minister Flaherty's decision not to re-invest the federal government's ballooning surplus in cities; after all, the federal government collects nearly all of its money in cities.
"The government has the opportunity now to show a real commitment to Canada's urban centres by leaving behind a fraction of the wealth generated in the places 80 per cent of the country lives. Otherwise, cities are left funding their growth through property taxes, the most regressive form of taxation. Further, the future prosperity of cities will be put at risk and the federal government will see those surpluses dry up very quickly.
"Cutting the GST shows the government has the fiscal room to dedicate one cent of the sales tax to municipal infrastructure. If there's room to cut, there's most certainly room to share.
"If Toronto is to succeed we need the kind of stable and predictable funding that comes with permanent access to revenues that grow with the economy. Without One Cent Now, it becomes increasingly difficult to build the safe, prosperous and inclusive city that Torontonians want, one that is a leader on climate change and that is connected by rapid transit."
For more information:
Stuart Green, Office of Mayor Miller, 416-338-7119
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