Thursday, November 02, 2006

The end of a dream

It's no real shock - Toronto's bid for the 2015 World's Fair has died in uterus.

As usual, the effort to cobble together funding from different levels of government proved decisive.

I can't blame the senior levels of government too much. Scarcely a day goes by on which Mayor David Miller is complaining about not getting enough handouts. Queen's Park even coughed up $200 million in free cash to cover the city operating expenses for this year. Upper levels are funding waterfront projects and transit equipment. Of course, they could provide more.

The trouble is that the fiscal practices of the city have raised too many red flags. The City's operating budget grew $1.3 billion over 3 years - easily twice the rate of inflation. The city bureacracy is bursting at the seams of two large office towers.

Miller has again raised the desire to get 1 percentage point from the sales tax/GST. Sure, that would give the city $450 million or so. This would last about one year - and then we'd back into crisis mode.

Miller and his minions understand nothing about saving $ through efficiencies. It's actually completely anathema to them. They operatate as if the pols at Queen's Park and on Parliament Hill don't notice. PulllEASE!

Miller is giving Ivy Leaguers with good hair a bad name. This is personally upsetting. For the sake of Toronto, we must have a change on leadership.

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