THE PROMISE RECORDTORONTO · CIVIC RESEARCH
Promise trackerCity finances & taxes
City finances & taxes

Negotiate a new fiscal deal

A provincial New Deal was approved. It is not proof that Toronto’s financial pressures are solved.

Milestone met

The original commitment

Seek a new funding arrangement with other governments.

Documented: 2023 campaign; documented 27 June 2023. Contemporaneous reporting; exact campaign announcement date not established.

The Canadian Press / CityNews: Chow’s campaign priorities and fiscal challenge ↗ City of Toronto: Council approval of New Deal and reallocation of highway funds ↗ City of Toronto: 2026 adopted budget: affordability and financial sustainability ↗ City of Toronto: Progress on transferring Gardiner and DVP to Ontario ↗

What would count as delivery?

A documented intergovernmental agreement providing structural or operating relief.

Delivered — but when?

2023 campaign deadline: No specific completion deadline established in the reviewed 2023 campaign record.

Actual milestone: 2023-12-13 — Council approved the agreement; not completion of every transfer or funding obligation.

Late against the campaign deadline? Not assessable from the reviewed campaign deadline evidence.

Project schedule comparison: No comparable project deadline assessment established in this review.

Election proximity: 1048 days before 26 October 2026.

The Canadian Press / CityNews: Chow’s campaign priorities and fiscal challenge ↗ City of Toronto: Council approval of New Deal and reallocation of highway funds ↗ City of Toronto: 2026 adopted budget: affordability and financial sustainability ↗ City of Toronto: Progress on transferring Gardiner and DVP to Ontario ↗

What the record shows

  1. Council approved the Ontario–Toronto New Deal.

    City of Toronto: Council approval of New Deal and reallocation of highway funds ↗

  2. The City’s budget statement credited New Deal support while identifying continuing financial sustainability challenges.

    City of Toronto: 2026 adopted budget: affordability and financial sustainability ↗

  3. The City reported further progress toward the Gardiner/DVP transfer.

    City of Toronto: Progress on transferring Gardiner and DVP to Ontario ↗

Action ≠ outcome

An agreement is a verifiable milestone. Long-term fiscal sustainability requires a separate assessment of recurring revenues, costs and obligations.

Qualifications & shared responsibility

Ontario and federal cooperation, conditions on funding and Council implementation matter. Highway uploading and multi-year assistance should not be mistaken for permanent coverage of every operating gap.

Sources for this record