OTTAWA — At risk of making its 120th year its last, Toronto’s much-loved but cash-strapped Santa Claus Parade will continue — thanks to support from the federal government.

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One week after organizers of the Toronto Santa Claus parade established an emergency appeal via GoFundMe for donations, Prime MInister Justin Trudeau announced on social media that Ottawa will step forward and financially assist the long-running tradition.

“I heard that the #SantaClausParadeTO is having a few challenges. So, we’re going to help them out,” Trudeau posted on X Friday.

“It’s a great tradition, and we want to keep it going for years to come.”

While corporate sponsors make up the majority of the parade’s funding, growing costs and dwindling sponsorship have put the parade, which survived both World Wars and the Great Depression, in financial jeopardy.

Organizers launched a GoFundMe earlier this month with the goal of $250,000, which as of Monday afternoon has raised $72,825.

Funding shortfalls prompted organizers to broadcast the parade live on YouTube instead of the usual national television broadcast.

Spadina-Fort York MP Kevin Vuong, whose riding is home to the parade, told the Toronto Sun he thanked the federal government for their help, but said the parade needs more than dollars to ensure its continued survival.

“Credit to the federal government for stepping up to save a 120-year Toronto tradition. If they had focused more on local things like this, as opposed to endless virtue-signalling, perhaps they wouldn’t have lost touch with the things that matter most to Canadians,” Vuong said.

“Here’s to hoping this marks the beginning of a return to protecting and celebrating our country’s traditions.”

The parade returns for its 120th years this Sunday.

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