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Toronto faces an unprecedented budget gap of almost $1 billion in 2021 due to COVID-19

January 18, 2021

Toronto faces an unprecedented budget hole of almost $1 billion in 2021 from COVID-19, a shortfall which may jeopardize repairs at city-run long-term-care homes, rec centres and shelters

The hole — seven per cent of the total $13.95-billion operating budget planned for this year — was spelled out at the city’s budget launch Thursday morning, one of the more sobering presentations in recent memory.

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