Transit finance project Research Paper Example | Topics and Well Written Essays - 2250 words

Transit finance project - Research Paper Example Within federal jurisdiction, it represented the policies and programs of the municipal governments of Canada since 1901. The FCM ensures that its 1200 members representing larger cities to small rural communities work sincerely for improving the quality of life of the communities they represent. The municipal institutions of Canada are efficient, strong and accountable and they ensure that their services are affordable, reasonable and beneficial for both the people and businesses in Canada. In fact, the municipal institutions of Canada reflect its character and they deliver their services to the citizens and play a key role in social cohesion and economic sustainability in Canada. The report aims to analyse the taxing and spending of public finance in Canadian municipalities in the backdrop of the province of Ontario. This research report is a part of the transit finance project, which is prepared by applying the theoretical discussion of taxation and analysing the politics of taxation. The background of this report is the province of Ontario, which created Metrolinx in 2006 for planning transit expansion and improving transit system integration, especially in two areas namely Hamilton and Greater Toronto. Metrolinx presented its report, The Big Move, in 2008. The Big Move is a 25-year plan, which required substantial investment in the subway, BRT, LRT, and GO Rail projects. As per estimates of the plan, it requires an investment of about $2 billion every year for a period of 25 years. These projects are justified on certain grounds such as the traffic congestion in Toronto is regarded as the worst in the North America. The people and businesses pay huge cost s due this worst traffic congestion. Presently, it is estimated that the per year cost to the people and businesses is around $ 6 billion, which is expected to reach up to $ 15 by the year 2031. It is the general consensus