In an article entitled We “can’t cut our way out” of budget gaps: Toronto city manager, MetroNews Toronto reports on the City Manager’s 2016 address to IMFG.
[T]he cost of delivering city services at this year’s level will require an additional $607 million in 2017, and $438 million in 2018, both “very challenging” gaps to close, he said.
The city will not be able to “cut our way out of this problem,” Wallace said. He added he believes Toronto’s focus on austerity measures for the last six years has been successful, but it’s “absolutely not sufficient.”
City Manager Peter Wallace delivered the 5th Annual City Manager’s Address to IMFG on October 17, 2016, with a presentation entitled What We Do Is What We Fund.