Spreading Toronto’s $1.9 Billion Debt From 10 to 35 Years and Depleting Reserve Funds Is Wrong

March 26, 2010 - PRLog -- Toronto's Incumbent councilors  of 12 to 20 years with their “left leaning socialist ideology” being driven by the outgoing mayor who is in the pocket of the unions have left the people with an accumulated debt today of close to $2 BILLION DOLLARS and now propose to pass it on to our children over the next 35 years!

By reducing our reserve funds and extending the debt payoff from 10  to 35 years  these incumbent councilors have failed the people of Toronto and passed this debt onto our young people and their children.  

They have annually continued to increasing spending over revenues at a rate of 5.21%. The rate of inflation since 2003 has been 2.40%. This 1.9%  increase in spending  being passed on to homeowners, renters and business alike in tax hikes siphons over $22 million from taxpayers. If this money was left in the peoples pockets it would create more jobs for Torontonians.

Peter CLARKE proposes a consultation with non-union and union civil servant groups within the city to consider an introduction of a pension levy for all Toronto’s public service workers as an alternative to pay cuts in order to help resolve the city’s fiscal problems.

Peter CLARKE proposes a CAP on SPENDING for ALL Departments, PROGRAMS, BUDGETS and TAXES to the annual rate of inflation or below starting with the 2011 budgets.

Peter CLARKE proposes ZERO BASED BUDGETING PROCESS for all departments and programs COMMENCING with the 2011 budgets.

Peter Clarke proposes a salary reduction of 25% for councillors and 25% reduction of expense accounts for councilors effective with the 2011 city's budget process. Each year thereafter salaries would be limited to the annual rate of inflation.

CLARKE estimates this interim salary cut would immediately save the taxpayers over $6 MILLION DOLLARDS per year and over $27 MILLION DOLLARS over the 4 year term of office.

Peter CLARKE proposes that Councils DISCRIMINATORY Bylaw which prohibits non unionized contractors or providers from bidding on city contracts for outsourced services and work is Discrimination against non unionized contractors and workers. It must be stopped and immediately taken off the books to ensure fairness, transparency, accountability and cost efficiency.

Peter CLARKE is of the opinion that citizens’ of Toronto would be far better off with a 22 member council. A smaller council encompassing the 22 Provincial boundary riding's for Toronto and be in place for the 2014 municipal election would be more productive, functional and manageable than the 44 existing council members of the past 12 years.

Clarke estimates this reduction from 44 councillors to 22 would save taxpayers $245,764,438 MILLION DOLLARS for the taxpayers over the current 4 year term of office.

CLARKE an INDEPENDENT is NOT a CAREER Politician or supporter of any political party, special interest group or lobbyists. PETER is your average citizen candidate and answerable only to the people NOT a political party, special interest group or lobbyist.

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to ensuring that on October 25, 2010 Voters in Toronto, North York, Scarborough, York, East York and Etobicoke elect a NEW slate of common sense councilors for our metro council. THANKS.

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Peter is CEO, chairman and founder of Ellis Clarke, one of the largest privately held strategy facilitation firms in the world and a leading global consulting facilitator.