Gap Between Rich and Poor

Impact on Toronto:

“The socio-economic health of Toronto requires a vital investment in economic development and poverty reduction. We need to consider the lives and livelihoods of vulnerable Torontonians, on a foundational level, in order to assist to close the gap between the rich and poor.”
— Barb Gosse, Director, Saving and Asset-Building Initiatives, Social and Enterprise Development Innovations (SEDI)

Why it matters:

When there is a large gap between the rich and poor in our community, we are all affected. A large gap can lead to other social problems in our community, like health disparities and crime.

• In one year, poverty in Toronto rose 22 per cent and the rate of child poverty was up by more than 43 per cent.
• The average cost of nutritious food for a family of four in Toronto rose to $715/month in 2010. On social assistance, that family would need to spend 37 per cent of its income on food and 69 per cent on rent, leaving minus $133 per month for all other basic needs.

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