Cities ‘bleeding’ cash because of COVID-19 could be next financial domino to fall for federal government

Article Link: https://www.recorder.ca/news/cities-bleeding-cash-because-of-covid-19-could-be-next-financial-domino-to-fall-for-federal-government/wcm/76ed2c1d-8c8a-440a-99e9-e2f46d3d9494?video_autoplay=true

Discussion posted by: itzfitzhere

Most municipalities in Canada are required to run balanced budgets, which means unlike the provincial and federal governments they can’t simply borrow through this crisis. Iveson said cities across the country have delayed property taxes and utility bills to help businesses, but that means eventually the municipalities will run out of cash.