If I remember correctly the City Of Toronto has a fairly high debt load so if they want to get involved they will have to borrow the money which will increase the amount of our property taxes going to pay the debt charges which will reduce the money needed for normal services so they will have to raise taxes or go cap in hand to the province and the feds. On a personal level if you ask a credit councillor why people go bankrupt it is usually due to high cost of borrowing....pretty simple so you have to wonder why our elected officials don't get the message.
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$4.5B big ticket Feds' transport plan will expand Spadina subway - if Harper's budget is passed
By ANTONELLA ARTUSO, QUEEN'S PARK BUREAU CHIEF
The Stephen Harper and Dalton McGuinty governments are making a $4.5-billion transit and road investment with local municipalities to help get traffic flowing through the GTA.
Harper was repeatedly asked by reporters yesterday if he was attempting to court voters with the splashy election-style announcement.
He said the aim of FLOW -- the federal transport plan for the GTA -- is to fund projects needed by ordinary people.
"There's no election scheduled right now and I'm not planning to have an election," he said. "Last budget, our government did lay out a large amount of new money for transit infrastructure across the country ... if that has political benefits, so be it."
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