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Toronto’s 2021 budget will rely heavily on federal, provincial aid amid COVID-19 pandemic

Toronto’s finances will continue to rely heavily on federal and provincial government for its 2021 budget and beyond, with $1.6 billion needed for supports this year.The launch of Toronto’s budget process on Thursday came with a warning from the city’s budget chief that this will be among the hardest financial years in Toronto’s history.

Toronto needs more inter-governmental aid in face of projected 2021 $1.7B hole: City Manager Toronto’s $13.95 billion operating and rate supported budget will rely on $1.6 billion in federal and provincial supports.

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