John Tory cruised to a third term as mayor of Toronto, as voters in Canada’s financial capital opted for a status-quo candidate with a strong fiscal pedigree at a time of growing economic uncertainty.
(Bloomberg) — John Tory cruised to a third term as mayor of Toronto, as voters in Canada’s financial capital opted for a status-quo candidate with a strong fiscal pedigree at a time of growing economic uncertainty.
It’s the first time any mayor has won three consecutive elections in Toronto since it was merged with five other municipalities to create an enlarged city in 1998. Tory had 62% of the vote with the vast majority of polls counted as of 11:56 p.m. Toronto time, according to the city’s election website. Gil Penalosa, an urban planner and consultant, was second with 18%.
Canada’s largest city is facing a number of challenges, including the lingering financial effects of Covid-19 lockdowns, a likely recession and a housing affordability crisis.
Among Tory’s main campaign promises was a pledge to fix the housing crisis. Years of rising prices and the recent surge in mortgage rates has kept home ownership out of reach for many residents, and rents are rising. Tory’s plan involves opening up vast tracts of residential land currently dedicated to single-family homes to multiplexes and apartment buildings.
That promise resonated with voters, even as Tory’s Bay Street credentials won support from the right. A fiscal conservative, Tory hails from an established Toronto business family; a storied law firm, Torys LLP, was founded by his grandfather. The mayor previously served as leader of Ontario’s Progressive Conservative party.
Thirty-one candidates ran for the mayor’s office in Toronto, which has about 2.8 million people.
Elections for four-year terms also happened in other municipalities across Ontario. In Ottawa, voters elected former broadcaster Mark Sutcliffe after a contentious campaign that divided members of the country’s governing Liberal Party. Sutcliffe’s main opponent, city councilor Catherine McKenney, received endorsements from high-profile Liberals including former Bank of Canada and Bank of England Governor Mark Carney.
Read more: Low-Key Mayor Floats Fix for World’s Biggest Housing Bubble
(Updates vote tally in second paragraph)
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
