Gap Between Rich & Poor

Income disparities impact us all – they affect health, crime, productivity and prosperity.

Why it matters:

The Toronto Region ranked 11th out of 24 global metropolitan centres on the 2014 Toronto Region Board of Trade Scorecard on Prosperity.

Despite improved income distribution, Toronto has the second biggest gap in Canada (after Calgary) between the richest 1% and the rest:

    - The average incomes of Toronto’s richest 1% have risen by over 80% since the 1980s.

The polarization of wealth and poverty is deepening: á More than 1million Torontonians live in low-income neighbourhoods (20% or more below average incomes).

At current rates, it is estimated that by 2025, almost 60% of Toronto neighbourhoods will be low or very low income.

After a six-year decline (2004 to 2010), Toronto’s child poverty rates are on the rise:

    - In 2012, 29% of children (17 and under) in Toronto were living in poverty

 

- Toronto's Vital Signs® Report 2014

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