The Toronto Taxpayers Coalition announced a bold new position with the release of a policy paper at City Hall this morning – one that would allow the city to build 1Km of underground subway tunnel and 1 subway station per year.
“A casino would be the cornerstone to a fully funded subway expansion plan that doesn’t raise taxes one cent,” said coalition president Matthew McGuire. “Putting this revenue towards expanding our subway network means Toronto wins.”
The coalition is advocating for the “Transit Funding Trifecta” that could bring in $400 million in revenue from:
Hosting fees for hosting a casino in Toronto
Licensed gaming tables in the hospitality industry
Revenue from online gaming
This bold proposal for an innovative revenue source is sure to get people talking days ahead of a series of casino community consultations.
“We’re looking at the new economy to find sustainable revenue sources that don’t hike taxes to unprecedented levels,” McGuire said. “This is the kind of thinking a 21st century world class city needs in order to prosper.
“Toronto is in a unique position. OLG wants to put a casino in Toronto. Council should use Toronto’s influence to negotiate aggressively in the best interest of taxpayers to realize a maximum windfall.
“With this plan, Toronto wins.”
You can view the plan in its entirety at www.torontotaxpayer.ca.