A move by the federal government to expedite federal gas tax funding to help municipalities during the COVID-19 pandemic is appreciated, but won’t do anything to address a looming multi-million dollar budget hole facing the city, London Mayor Ed Holder said Tuesday.
Prime Minister Justin Trudeau announced Monday that the federal government would rush some $2.2 billion in planned gas-tax money for municipalities, doling it out in one lump sum this month instead of two planned instalments — one in June, the other later in the year.
It comes as cities across the country face a combined budgetary shortfall of between $10 to $15 billion due to COVID-19, according to an estimate from the Federation of Canadian Municipalities.