COVID-19 was a ‘four-alarm fire’ for Toronto’s finances. The province’s bailout does nothing to douse the flames

Big number: $549.8 million, the amount the provincial government committed to giving Toronto, with support by the federal government, through the Safe Restart agreement. It will cover about 41 per cent of the total amount Toronto needs to fill its projected $1.35-billion year-end shortfall. The rest is TBD.