Calgary city council voted Monday to reallocate the first $50 million of the municipality’s annual investment income toward public safety initiatives — an idea that would shave two per cent off next year’s proposed 3.6 per cent overall tax increase.

While the motion passed 11-4, opponents criticized the idea as short-sighted, arguing it would be akin to “mortgaging the future.”

The proposal was one of 35 amendments proposed by council as part of its 2026 budget deliberations.

Mayor Jeromy Farkas said the motion, which Ward 6 Coun. John Pantazopoulos introduced, would amend the city’s reserve policy by reallocating $50 million from the city’s yearly investment income, on an ongoing basis, to support public safety initiatives.

The amendment was slated to bring down next year’s overall ta

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