Region has more debt, fewer reserves than other regions

A local business owner for the City of Kitchener has put his name forward to be the next city councillor in Ward 2

Asher Shahzad has officially registered for the position.

He has concerns over the large sum of spending coming from city hall, and feels existing funds could be better spent. 

“It’s a dysfunctional city council right now. Our region debt is rising“A city with a over half a million people now from 2012 to 2020 increased debts from $280 million to $715 million in 2020 We are spending money where we don’t need to and we aren’t putting money where it should be focused.” 

That growing debt meant the region had $1,142 of debt for every resident in 2019, a much higher debt load than comparable regions. Halton’s per capita debt that year was just $472, Durham Region’s was $102 and Peel Region’s was $856. Of five other similar regions, only York had higher debt, at $2,955 per person. Some regions aren’t responsible for providing transit services, which accounts for some of the difference.

Many city projects are already facing construction delays.

“Let me be clear: I am all for libraries; I think they are great resources for people of all ages to go and connect. Taxpayer Money has to be spent right. We cannot look at taxpayers like a blank cheque where we keep drawing from an account.”

Leave a Reply