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August 30, 2005
Enhancing Toronto's Business Climate -- It's Everybody's Business
The City of Toronto is preparing a new action plan to enhance the City’s
ability to compete globally as the heart of one of the five largest city
regions in North America.

On Thursday, July 7, 2005, a report at the City's Policy and Finance Committee
addressed the strategic approach to making that happen. The report, "Enhancing
Toronto's Business Climate -- It's Everybody's Business", begins to lay the
foundation of a new plan which will be considered by City Council in October

"This report builds upon the 2004 public consultations," said City of Toronto's
Deputy City Manager and Chief Financial Officer Joseph Pennachetti. "It begins
the development of an action plan to improve the City's tax policies and
initiatives for cost competitiveness."

The implementation of this action plan could affect property taxes. The City of
Toronto wants public opinion to help shape this plan and build new ways of
stimulating economic prosperity in a fair and sustainable way for all its
residents and property owners.

Public consultations will be held:

- Tuesday, September 6, 6 p.m. to 9 p.m., North York Civic Centre, Committee
Room 3

- Thursday, September 8, 6 p.m. to 9 p.m., Etobicoke Civic Centre, Main

- Tuesday, September 13, 6 p.m. to 9 p.m., Scarborough Civic Centre, Committee
Room 2

- Thursday, September 15, 9 a.m. to 11 a.m., Metro Hall, Meeting Room 314

- Thursday, September 15, 6 p.m. to 9 p.m., Metro Hall, Meeting Room 303

To register for any of the public meetings call 416-397-4474.

For more information, including a copy of the full report Enhancing Toronto's
Business Climate -- It's Everybody's Business, please visit our Web site at and click on "Enhancing Toronto's Business Climate".

Media contacts:
Len Brittain, Director, Corporate Finance, 416-392-5380
Adir Gupta, Manager, Financial Policy & Research, 416-392-8071



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