The Federal Government has reached an agreement with the Provinces for Covid-19 relief funding. Provinces and territories will receive $19 billion from the federal government. Some of that money will be allocated directly to municipalities that have suffered especially hard from the Covid-19 pandemic.
On Thursday, during a news conference in Ottawa, Prime Minister Justin Trudeau informed the public that Ontario would get $7 billion from the relief package. The news came after a lengthy campaign by various public figures voicing their concerns about the impact of COVID-19 on municipal finances.
John Tory was among the strongest voices raising concerns given the hardships Toronto has been facing since the lockdown began. Tory informed reporters earlier this week that the City would have to make significant budget cuts in the early summer to recover from a deficit that is expected to reach $1.35 billion by the end of this year.
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