Your bi-weekly briefing on policy developments, advocacy insights and the conversations that shape both regional progress and your business success. October 15, 2026 Sign up | View online Hello, Over the summer, the Board commissioned Ipsos to ask residents about their priorities for this election and the findings showed growing concerns about the rising cost of living, economic opportunity and Toronto's long-term competitiveness. With less than two weeks to election day, Torontonians are taking a close look at the candidates and their policies. Torontonians want a lot from their city, including transit that works, housing people can afford, and safe streets, parks, and libraries. Our polling found many residents think the city isn’t spending enough on what matters most to them. More than half say it isn’t investing enough in its infrastructure, and nearly half say the same about city programs and services. But wanting more and being able to pay for it are two different things. The Board’s CEO Giles Gherson laid out the challenge in a recent op-ed for the Toronto Star, noting: the city’s existing fiscal framework isn’t equipped to deal with everything on its plate. Toronto needs a fundamentally different approach to its budget strategy, which must include a plan to grow its tax base and find new ways to offload costs. How it can do that is outlined in the Board’s Funding Public Services Issue Guide. This guide is the final part of our three-part What’s at Stake municipal election series. If you haven’t yet, dive into the other two, Housing & Land Use and Congestion & Transit Infrastructure. And if you missed the mayoral debate we hosted with the Toronto Star, catch up with our recap where we tasked the candidates to talk about how they would address Toronto’s perennial budget challenge. Building the city residents want will take smart choices at City Hall and a stronger partnership with the provincial and federal governments. Restoring the city to sound fiscal footing to ensure it can deliver what residents and businesses need is what’s at stake this election. What to Expect in This Issue ▸ SWOT Analysis: Toronto’s Fiscal Framework ▸ 3 Questions on Paying for Toronto’s Ambitions ▸ Featured Events ▸ Policy at a Glance SOURCES: Strength & Weakness: Funding Public Services Issue Guide Opportunity & Threat: Ipsos polling for the Toronto Region Board of Trade 3 Questions on Paying for Toronto’s Ambitions Every promise made this election comes with a price tag, and Toronto’s budget is already stretched thin. We spoke with our President and CEO Giles Gherson to unpack why the city’s finances are a growth issue, and what we’re calling for from Toronto’s next council. 1. Toronto’s budget troubles aren’t new. Why should they be an election issue now? “Because the damage of this trade war should be an inflection point for a growth-oriented culture change at all levels of government. Municipalities aren’t exempt. To address Toronto’s budget, we’ve been relying on incremental tweaks, one-time provincial and federal top-ups, and Band-Aids to fix a structural problem. We need candidates to tell us how the city will be restored to a sound fiscal footing.” 2. Why can’t Toronto simply raise property taxes to close the gap? “Toronto’s median income growth severely lags peer cities. Our GDP per capita — our productivity — has stalled. A tax hike is the slow growth thing to do. Large increases are investment-repelling, and taxpayers alone can no longer be expected to carry the mounting burden of sustaining the high-quality public services residents expect. We need a high-growth strategy that encourages investment and business expansion, keeps our most talented young people here, while adding a lot more good paying jobs. That’s the way to propel revenue generation.” 3. What should change in how City Hall manages its budget and assets? “Rather than having a city that can’t afford to keep up with its needs, well-structured partnerships can build new and maintain existing infrastructure for everyone’s benefit. We’ve seen around the world how publicly owned and operated assets in the form of land, transit, housing, and energy contain huge, untapped value. Toronto has done it before. The sale of Toronto District Heating in the 1990s to a pension fund created EnWave. The Regent Park redevelopment is another strong example of Toronto getting it right.” Read our Issues Guides on Congestion, Transit and Infrastructure, Housing Affordability and Land Use and Funding Public Services, and explore the rest of our What's at Stake platform. Get Involved The Annual Dinner, taking place February 25, 2027, is the Board’s signature event, bringing together influential leaders and changemakers from across the Toronto region to celebrate those who Dare to Win. We’ll soon be announcing an extraordinary lineup of speakers for our next dinner, and once we do, we expect tickets to go quickly. Register now to secure your seat while limited early bird tickets last. Policy at a Glance WHAT’S AT STAKE ISSUES GUIDES Congestion, Transit and Infrastructure Housing Affordability and Land Use Funding Public Services New polling shows Toronto residents worried about the city's future OP-EDS Toronto has tools to tackle its budget crisis. It needs a fundamentally different strategy There is a better way to pay for Toronto’s future than through property tax hikes A plan to right Toronto’s sinking fiscal ship Toronto is falling behind — what’s our excuse? EVENT RECAPS Fixing Toronto’s Broken Budget: Bold Ideas to Tackle a Growing Crisis Elevating Small Business: Strategies for Growth and Productivity Reading this as a forward? Subscribe to stay connected. 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