I’m as guilty as the next guy for not seeing the larger picture of Toronto or the bigger context in which Toronto functions. Rather than apologize, let’s look at that bigger picture.

The Global Financial Centres Index annually ranks cities around the world. For the current year, London is the top city, then New York, followed by Hong Kong, Singapore and Tokyo. 

Toronto is ranked eighth in the world. I was astounded at this high status. I get stuck in traffic or on my bike, become angry about a small pothole and think bad things about this city.

Yet we’re ranked second in North America to New York — ahead of San Francisco (just by a bit) and Chicago, as well as Geneva, Frankfurt and so forth.

The ranking is made, after interviews with financial service professionals, based on five factors: business environment, financial sector development, infrastructure, human capital, reputation.  Toronto suffers a bit on the infrastructure file, as we all know. With the other factors, including human capital — which means a well-educated work force — we are doing terrifically well.

I’m not saying we shouldn’t celebrate finally being considered a world-class city. But we must recognize that the wealth of this city, its vibrant economic activity, owes a great deal to the success of the financial sector.

And not just the financial sector — other parts of the economy are just as important.

There’s no comparable ranking of cities by cultural activity, but if there were, Toronto would have a similar high status. We are second in North America to New York in theatre, right out in front in films, filled with writers with a worldwide reputation (as well as the International Festival of Authors), excellent in music from Opera Atelier to Drake. We do equally well in health care and health research.

Toronto’s success is apparent to anyone travelling in northern New York State. The 401 is jammed with trucks and cars, and the pit stops along the way are crowded. The New York State Thruway feels empty.

Southern Ontario is booming because of Toronto’s success, whereas northern New York State is struggling.

But there is one area where Toronto does not rank highly: local government. Most Torontonians don’t see it as being a source of imagination or innovation but instead as a locus for small players who have trouble catching the ball. That should be changed.

In the 1970s, city hall was dynamic, and the council was admired around the world. As I recount in my new book, council created the Central Area Plan for the downtown that was the envy of other cities on the continent. It created a plan for the St. Lawrence community, the largest downtown redevelopment in any North American city centre in the 20th century, and it continues to be a successful place. 

City hall didn’t make these changes on its own.

It engaged residents, developers, social workers and others in powerful working committees that created plans in conjunction with city staff and politicians.

Our current city council thinks it will address the gigantic problem of child poverty by approving recommendations for staff to implement.

These issues are much too big for staff to resolve.The mayor and city council can’t solve these problems on their own.

They need to harness the energy, drive and imagination of a broader public and engage them directly in joint decision making. That’s the way to create the vibrancy we need at city hall so our local government can be as effective as other sectors responsible for Toronto’s success.

A new direction could start with a powerful committee to replan the downtown to get the kind of new housing we require rather than more endless condos.

The committee should include financial sector people, as well as developers, residents and health researchers. And another similar committee should be established to seriously tackle child poverty.
Movement in this direction by city hall would be a fair recognition that our mayor and councillors wish to elevate local governance to the same high level of performance that is happening in other sectors in Toronto.

Post City Magazines’ columnist  John Sewell is a former mayor of Toronto. His recently published book is How We Changed Toronto, 1969–1980.