Putting Affordability First in Toronto’s Budget
- councillorcarroll
- Oct 2
- 2 min read
When I became Budget Chief in 2023, I promised that City Hall would start doing things differently. For too long, Toronto was spending without a long-term plan, leaving residents to shoulder rising costs while services struggled to keep up. That’s why we created a Long-Term Financial Plan—to restore discipline, protect affordability, and make sure every dollar is used wisely.
Three years later, we are beginning to see the results. Toronto’s credit rating has been upgraded for the first time in more than two decades. That recognition means lower borrowing costs for the City and better value for your tax dollars. We’ve also found millions in savings and efficiencies, and secured new support from the provincial and federal governments through the historic Ontario–Toronto New Deal.
It also means keeping my commitment to residents: after the urgent investments needed to fix transit, build housing, and strengthen community safety, the property tax rate increase would start to come down. In the 2026 budget, we will deliver a leaner plan that protects affordability while safeguarding the services you rely on.
We still face real challenges—rising costs of living, global financial uncertainty, and billions in infrastructure needs. But Toronto is now on stronger financial footing, and we will continue to make careful choices about where and how we invest.
That’s where you come in. Budgets aren’t just about balance sheets—they’re about the kind of city we build together. Over the past two years, because of your input, we’ve fed more hungry kids, frozen TTC fares, extended library hours and seniors services, and added front-line police officers - which have made a huge difference in our crime rate. These are the kinds of practical, affordable improvements that make life better for everyone.
Share your voice on the 2026 Budget:
• Oct 14, 7–9 p.m. – St. Lawrence Market North (92 Front St. E)
• Oct 18, 12–2 p.m. – Etobicoke Olympium (590 Rathburn Rd.)
• Oct 22, 7–9 p.m. – North York Memorial Hall (5110 Yonge St.)
• Oct 23, 7–9 p.m. – Scarborough Civic Centre (150 Borough Dr.)
• Oct 27, 12–2 p.m. – Virtual (www.toronto.ca/budget)
• Oct 29, 7–9 p.m. – Virtual (www.toronto.ca/budget)
And don’t forget—the online survey (available in 12 languages) is open until October 31st: toronto.ca/budget
Looking forward to hearing your feedback!
