Amid sagging revenues and a pledge to restrain property taxes, Toronto city council passed an austerity budget Thursday with relatively little new spending and a $79-million hole. Land transfer tax revenues, once a buoyant source of cash for new programs, are expected to continue drooping in 2019. It does beg the question: ‘If we weren't looking after that, what other roads could we look after as well?’ ” said City Manager Chris Murray as city council debated the 2019 budget. Toronto’s 2019 budget has a fiscal pothole yet to be filled. What’s in, what’s out In: “There are not a lot of extras,” budget chief Councillor Gary Crawford declared amid sagging revenues.

Source: thestar March 08, 2019 03:00 UTC