Online promotional material for Change for Clubs, the 'Yes' campaign for the referendum. VIA FACEBOOK

The votes are in and University of Toronto Students’ Union’s proposal for a new levy to fund student clubs has failed, with 76.3 per cent of referendum voters casting their ballots against the fee.

The referendum was held from October 18–20. Of the 2,026 students that voted, only 23.7 per cent voted in favour of the proposed levy. 2.4 per cent abstained.

The proposed levy would have been $3.75 per session for the next five years. The funds collected would have been restricted towards clubs, events, and student service funding only, with no amount going towards salaries.

This story is developing; more to follow.

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