Opinion | As Olivia Chow takes office, John Tory leaves her with staggering budget baggage. But it’s not all bad news
Opinion | As Olivia Chow takes office, John Tory leaves her with staggering budget baggage. But it’s not all bad news
Olivia Chow faces a budget gap of more than $2 billion, part of the legacy left behind by her predecessor.
<For Chow, the only good news is that it’s not all bad news. If you can look past this approximately $2.1 billion combined budget problem and really squint, you can see some bright spots.
Revenue from business licences is running $600,000 ahead of budget due to increased business activity. Bike Share system revenue was up a staggering 192 per cent last year compared to pre-pandemic levels last year and continues to look impressive this year. The municipal accommodation tax, from hotel stays and short-term rental services like Airbnb, has derived revenues $4.5 million higher than expected so far this year. Heck, even the Toronto Zoo offers reason for a bit of hope. They’re projecting a $1.8-million surplus this year, driven by nearly 70,000 more annual visitors than they expected.
Call me a naive optimist, but in those kinds of numbers I see evidence that this is still a city that people want to invest in, visit and explore.
If Chow can deal with the financial problems of the Tory era, she can help build a city that functions again. But set your expectations accordingly. If there are missteps, let’s not overlook that the baggage Tory leaves behind is incredibly heavy. Chow didn’t create it, but she’s got to carry it.>
You already know conservatives are going to blame her for this city budget shortfall she is inheriting. Premier Ford will conveniently look in the other direction when money's on Mayor Chow's mind.
@Rentlar @MarkG_108 Textbook.
Im taking bets on the next steps that we’ve seen time again.
@Rentlar @MarkG_108 Well, they were already blaming her for a TTC attack days before she was even sworn in, so...
She has "ow" in her name. Of course she's to blame for any and all violence in the city.
The situation only makes sense if you look at it as a plutocracy ... a system run by money.
Those in corporate power and access to all the money and power will decide if Chow gets anything done or not. If she fails and struggles it will be because they won't allow her. If she succeeds, it will be because they didn't stand in her way.
She'll only succeed with the backing of the people and the community, supporting her in the standoff between her and corporate powers.
As much as I like to believe that ... I am a lifelong NDP supporter and I'll never give them up either ... I am also not naive as to think that just people showing support for any government can change anything. Money, power and influence runs the system and the more you have of it, the more you can influence people and organizations. Just look at Coca-cola, everyone still drinks it because we are all led to believe how great it is. Money has to be eroded from the government system first from everywhere before any real chance can occur. Otherwise, the fighting, infighting and struggles will always remain the same.