Ford: Damaging municipalities

Efficiencies alone won’t cover Ford government’s municipal funding cuts: Moody’s

TORONTO—A leading credit agency says Doug Ford’s planned cuts are credit negative for Ontario’s municipalities and local governments will likely have to raise taxes, cut services and find efficiencies of their own in order to bridge the gap.

In a report released Tuesday, Moody’s found that the cuts made to public health agencies, paramedic services, and child care and early years programs, along with the cancellation of the increase in the share of the gas tax, will leave municipalities more than $2-billion “worse off” over the next 10 years.

“While the changes benefit Ontario’s credit profile, they are credit negative for the province’s municipal governments,” reads the report.

The analysis brings a third-party perspective to a heated debate that has largely pitted Toronto councillors and Mayor John Tory against Ford’s Progressive Conservative government.

Link https://ipolitics.ca/2019/06/19/efficiencies-alone-wont-cover-ford-governments-municipal-funding-cuts-moodys/?fbclid=IwAR0xT5f5NKziCS60RPdqrzwLg5ySeyuMRl-UWEj0Pa6BA7i6EIw0rVASElM