Apr 07, 2016: Royal Bank and BMO defend Canada's banking sector amid Panama Papers and Fintrac fine--Today, Robertson defended the spending.

Apr 07, 2016: Royal Bank and BMO defend Canada's banking sector amid Panama Papers and Fintrac fine

Bad week for big banks as tax haven discussion hits at same time as fine levied for lack of disclosure

The heads of Canada's biggest banks say they are confident they are doing enough to fight money laundering and tax evasion amid the release of the Panama Papers and other stories that have cast doubt on the sector's gold-plated reputation this week.

April 07, 2016: Gregor Robertson is taking heat for his discretionary funding, labelled by some as a so-called “slush fund,” which recorded over $264,000 spent in non-essential goods and services last year.

Vancouver’s mayor had reportedly spent double in 2015 than what he did in 2014 before the transit/tax referendum. 

March 16 to May 29 2015: Metro Vancouver residents have voted “No” in the unprecedented plebiscite on transit funding. In reality this was a vote of non-confidence, Calling for the Resignation of All Politicians Involved in the Plan or Taxation Plans.

The result of the region’s plebiscite on new transit funding – in the form of a new 0.5 per cent regional sales tax – was announced shortly after 10 a.m. Thursday morning, after Elections BC’s chief electoral officer delivered the final result to the Legislative Assembly in Victoria.

The plebiscite, ordered by Premier Christy Clark, ran March 16 to May 29 after the Mayors’ Council of Regional Transportation pitched the Congestion Improvement Tax to fund its share of a 10-year, $7.5 billion transit plan. 

Today, Robertson defended the spending. He made no mention of his salary increase however.

“I think that money’s well spent. I think taxpayers get good value for money, and they can certainly get a hold of me if they’re concerned about that and if they want more details, we’re very transparent. I report my expenses on a quarterly basis, and I want to be sure I’m very clear with that accountability.”

Robertson says the budget isn’t as bad compared to other big Canadian cities. Whoooopi Ding- Ding

“Particularly given we’re trying to land billions of dollars in investments from the provincial and federal government. We have the fastest-growing economy of any city in Canada right now. Our opportunities are huge, and we want to make sure that we’re communicating well, that we’re out, and we’re representing the city of Vancouver everywhere.”