The Ford government has reduced the amount it planned to cut from the transfer it provides the City of Toronto for subsidized childcare spaces by at least two thirds, Mayor John Tory said Saturday.

Earlier this year, the Ford government said it was moving away from 100 per cent funding of subsidized childcare spaces in municipalities, instead seeking a cost sharing model where it would cover 80 per cent of the costs.

City of Toronto staff said earlier this month that the change would result in $15 million of lost revenue in 2020, equivalent to 760 affordable childcare spaces.

But Saturday, Tory said on Twitter that the province had a change of heart.

“Although no reduction in funding would be best, we have not been notified that we won’t lose as much, now only $2-$5 million,” Tory said. “While I am happy about this step in the right direction and comment the province on this progress, I will continue to advocate for more child care funding from the other governments and not less.”

In 2018, about 17,000 families were on a waiting list for a subsidized childcare spot.

A spokesperson for Ontario Minister of Education Stephen Lecce confirmed Tory’s estimate was accurate, and said cities were informed of the exact figures on Friday.

Councillors Joe Cressy and Mike Layton issued a joint statement on what they called "a reduction, but on Saturday, saying that it is likely the cuts will deepen again in 2021.

"Frankly, this is getting silly. Rather than this slow and painful ripping off of a bandaid, it’s time for the provincial government to completely reverse their cuts to child care. Full stop," they said.

The PCs have made similar cuts to municipal public health funding transfers.

A 2018 study by the left-leaning Canadian Centre for Policy Alternatives found that the median cost for a toddler to attend preschool in Toronto is $1,354 per month.