The Economist had some harsh words for Toronto in their July 28, 2007 edition. The venerable UK magazine claims that Toronto’s fiscal struggles coupled with Calgary’s surging economy threaten Toronto’s status as “Canada’s pre-eminent city.” Mayor David Miller, meanwhile, is sternly criticized for attempting to raise new taxes on property and cars instead of pursuing more politically realistic measures like road tolls or congestion charges. The article ends with a stinging historical suggestion: “Splendid to be a city state. But even Venice ended up as a backwater.” Ouch.
Calling Richard Florida: Time for a rebuttal from Toronto’s newest global citizen?
Kathryn provides market intelligence services to MaRS Advisory Services clients and to The Innovations Group at the University of Toronto. She is a graduate of the University of Toronto's Faculty of Information.
