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During The 1970s The Population Of Toronto Continued To Grow And Surpassed That Of Montreal In 1971 The Populations Of The Respective Census Metropolitan Areas (CMAs) For Toronto And Montreal Stood At 2.7 Million And 2.6 Million By 1981 Toronto Had Surpassed Montreal With A Population Of 3 Million Versus 2.8 Million For Montreal Factors For The Growth Of Toronto Over Montreal Included Strong Immigration Increasingly By Asians And People Of African Descent The Increasing Size Of The Auto Industry In Southern Ontario Due To The Signing Of The Auto Pact With The US In 1965 A Calmer Political Environment (Quebec Experienced Two Referenda On Separation During These Years One In 1980 And The Other In 1995) And Lower Personal Income Taxes Than In Quebec Construction Of First Canadian Place The Operational Headquarters Of The Bank Of Montreal In 1975 The 1970s Saw Several Canadian Financial Institutions Move To Toronto Toronto Had Been The Junior Partner In Canadian Business To Montreal Historically This Changed As Toronto Grew Rapidly After World War II Another Factor Was The Growing Nationalist Movement In Quebec Particularly With The Success Of The Parti Qu�b�cois In 1976 Systematically Alienated Anglophone Businesses By 1995 Toronto Controlled 48% Of Canada's Financial Assets And 44% Of The Non-financial Corporate Assets Compared To 28% And 22% By Montreal During This Period Three Of Canada's Largest Banks Became Headquartered In Toronto: The Royal Bank Of Canada The Toronto-Dominion Bank And The Canadian Imperial Bank Of Commerce These Along With The Manulife Financial Corporation Sun Life Financial Inc And Toronto Stock Exchange Form The Financial District The Financial Heart Of Canada Toronto Also Became The Corporate Capital Of Canada With The Majority Of Canadian Companies Having Their Head Offices There Notable Examples Include: George Weston Limited Onex Corporation Magna International Inc Wal-Mart Canada Corporation And Brookfield Asset Management Inc Toronto Strengthened Its Position As The Cultural Centre Of English-speaking Canada During These Years The Globe And Mail And The National Post Two Of Canada's Most Important Newspapers Have Their Head Offices There The New CBC Canadian Broadcasting Centre Was Completed In 1993 And Became The Corporation's Control Facility For English Language Broadcasting In Canada Also In 1993 Ryerson Polytechnical Institute Gained Full University Status And Became Ryerson Polytechnic University Roy Thomson Hall Became The Home Of The Toronto Symphony Orchestra In 1982 This Along With The Newly Constructed Princess Of Wales Theatre And The Venerable Royal Alexandra Theatre Now Form The Heart Of The Theatre District Cultural Institutions Including The Art Gallery Of Ontario And The Royal Ontario Museum Have Had Their Buildings Renovated The Four Seasons Centre Became The New Home Of The Canadian Opera Company And National Ballet Of Canada When Completed In 2006 The Toronto Film Festival Established In 1976 Has Become After Cannes The Most Important In The World And Now Sports A New Headquarters The TIFF Bell Lightbox Opened In 2010 Film Production Has Received A Boost With The Newly Completed Pinewood Toronto Studios In The East End Of The Waterfront Toronto Has Also Been Home To The Hockey Hall Of Fame (1943) Since 1961 The Changing High-rise Downtown Core Provided Visual Evidence Of Growth New Skyscrapers Included The Royal Trust Tower 1969 First Canadian Place 1975 The CN Tower 1975 Royal Bank Plaza South Tower 1977 The First Bank Tower 1979 Scotia Plaza 1988 The SkyDome 1989 The BCE Place�Canada Trust Tower 1990 And The Bay Wellington Tower 1990 New Skyscrapers Include: One King Street West 2005 West 1 2005 Harbourview Estates 2 2005 Residences Of College Park 1 Toronto 2006 Quantum 2 (Minto Midtown) 2008 The Bay Adelaide Centre West 2009 The RBC Centre 2009 Success 2009 And Montage 2009 The Former Toronto Stock Exchange Building Incorporated Into The Toronto-Dominion Centre The City Began To Designate Heritage Buildings In The 1970s Forcing Some Developers To Incorporate Them In Their Designs The Loss Of Many Of The Old Buildings In The Downtown Saw A New Interest Among Toronto's Citizens To Preserve Heritage Buildings And The City Of Toronto Began Designating Buildings To Prevent Their Demolition The Toronto City Council In The 1970s Was Dominated By Reformers Such As David Crombie And John Sewell; Opposed To The Pace And Destructive Aspects Of Toronto's Sudden Growth A By-law Was Put Into Place Temporarily Halting Skyscraper Construction While Land Use Controls And The Official Plan Was Updated In The 1990s Toronto Was Affected By The Country-wide Recession As Well The Senior-level Governments Of Canada And Ontario Downloaded The Delivery Of Services The Ontario Government Transferred A Section Of The Queen Elizabeth Way To The Metro Gardiner Expressway Cancelled The Eglinton Subway Line And Trimmed Transit Housing And Welfare Subsidies The Canadian Government Formed Independent Agencies To Manage The Toronto International Airport And The Toronto Harbour; The Latter Particular Controversial To Toronto As Toronto City Council Wanted To Take Over The Harbour As Part Of Waterfront Revitalization Efforts As Well The Canadian Government Eliminated Its Public Housing Programs These Changes Would Lead To Budget Crises For The Toronto Government Of The 2000s Amalgamated Toronto (1998�present)