The way our city is funded is a “formula for mediocrity,” says Sheldon Levy, U of T’s vice-president, who joined city councillors and business leaders in calling for the province and the feds to give Toronto more money and power.
Levy was one of several panelists at a public forum hosted by Innis College, where everyone agreed Toronto’s size and contribution to the country mean it should have more control over its own affairs.
“We are the key generator of wealth in this country,” said Elyse Allan, president and CEO of the Toronto Board of Trade. Toronto is accountable for 10 per cent and 25 per cent, respectively, of Canada and Ontario’s GDP.
City councillor Jack Layton called for “a reinvestment of the wealth created by the people in our cities back into our cities,” referring to the massive amount of taxes Toronto residents pay that are not reinvested in the city.
Levy echoed these thoughts, speaking about the inappropriate allocation of the federal budget towards cities.
“One size does not fit all. It is a formula for mediocrity for everyone.”
Levy participated in the forum to demonstrate how the futures of the university and the city are “absolutely linked.”
U of T pumps $4.3 million every year into Toronto’s economy. The university community, including alumni, also comprises 7.5 per cent of Toronto’s adult population.
Rhetoric aside, concrete proposals were brought forward to solve the “short-changing” of the municipalities by the federal government.
Layton emphasized the need for a new financial arrangement consisting of a partnership between the city and the federal government. This proposed new deal would mean increased decision-making power for local communities, while still maintaining a direct relationship with Ottawa.
Other proposals included the creation of a separate province of Toronto and giving cities a portion of income and gas taxes. Allan noted that the only tax cities currently have access to is property tax.
“We have the ingredients and the responsibility to take a stand on international issues,” said Michael Fox, a former U of T student. “We have a strong comparative advantage in terms of our diversity.”
Perhaps the largest applause of the evening came when Toronto Star publisher John Honderich exclaimed, “I’m tired of Toronto being bashed.” The Star is one of the most active campaigners for this “new deal.”
“In 1977, my city was clean, vibrant, and crime-free,” said Star columnist Royson James. “Now, will my son and your children leave this miraculous city for opportunities elsewhere? Is love enough?”
The general consensus of the event was that momentum seems to be building, albeit slowly, towards establishing a more competitive, world-class Toronto.
