Toronto New Deal 2.0: Doug Ford Says No to More Funding for the City
Toronto will not get a new funding deal from the province, at least for now. On Wednesday, November 4, 2026, Ontario Premier Doug Ford said there will be no second “New Deal” for the city, CP24 reported.
City officials had been working with the province on a Toronto New Deal 2.0. The goal was to get steady, long-term funding to help pay for city services. However, Ford shut the door on that idea when reporters asked him at Queen’s Park.
What Doug Ford Said
Ford was clear in his answer. “No, there’s no 2.0, to answer your question directly,” he said, according to CP24.
He also pointed to money the city already gets. “We’ve given Toronto $9 billion — with a ‘B,’” Ford said, Global News reported. In addition, he said, “You can’t always rely on the province. We’re in tough times right now, really tough times.”
Still, Ford left some room for talks. “But are we willing to sit down and talk to Mayor Chow about certain priorities?” he said, according to CP24. For example, he named crime and adding more policing on the subway.
What Was the First Toronto New Deal
The first deal was signed in November 2023, soon after Olivia Chow became mayor. It was a three-year, $1.2 billion agreement, Global News reported.
Under that deal, the province agreed to take over the Gardiner Expressway and the Don Valley Parkway. It also helped pay for new transit vehicles. Plus, it gave the city $353 million for operations and maintenance until the highway takeover is done.
Toronto New Deal 2.0: Key Details
- Who said no: Ontario Premier Doug Ford
- When: Wednesday, November 4, 2026
- What Toronto wanted: A second deal with more steady, long-term funding
- First deal: $1.2 billion over three years, signed in November 2023
- Ontario’s deficit: $16.9 billion, according to Global News
- Open to talks on: Crime and subway safety
Why the Province Says Money Is Tight
Ford pointed to Ontario’s own budget. The province has a $16.9 billion deficit, Global News reported. Also, its fall economic statement expects $36 billion in deficits over the next three years.
On the other hand, opposition leaders pushed back. Green Party leader Mike Schreiner warned about what could happen next. “If the municipalities don’t get a new fiscal deal, we’re likely going to see double-digit property tax increases,” he said, according to Global News.
What It Means for Toronto Residents
Toronto is now getting ready for its next city budget. Meanwhile, Chow was recently re-elected after promising to keep tax increases close to the rate of inflation, CP24 reported. Because of this, the city may need to look to the federal government for more help. In fact, City Manager Paul Johnson recently said the city would look to other levels of government for funding.
What Happens Next
First, the city will keep working on its budget for next year. Then, Chow and Ford may still meet to talk about smaller priorities like safety. So, keep an eye out for updates as the budget process moves ahead in the coming weeks.
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References
- CP24, “Toronto wants a new deal with the province. Doug Ford says the answer is ‘no’”
- Global News via Yahoo News Canada, “‘We’re in tough times’: Doug Ford shuts the door on new funding deal for Toronto”
- Western Standard, “WATCH: Ford rules out new funding deal 2.0 for Toronto”
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