MPP Will Bouma announces details of Ontario’s Budget details
NEWS November 5, 2020
BRANTFORD, ON – The Ontario government released the plan that is the next step to deal with the effects of COVID-19. There are three themes that collectively comprise the latest budget: protect, support and recover. As Premier Ford has said many times, our Government will spare no expense to deal with this unprecedented health threat and to save lives in Ontario, but we will do it in a measured and reasonable fashion. We will continue to lead the way among the Provinces and will continue to work with our Federal partners.
“I have never been more proud to represent the people of Brantford-Brant than through this pandemic.” Bouma stated. “So many people have done so much to protect and support each other, it’s truly amazing.”
Here are some of the details in the plan:
- Protect
- An additional $15.2 billion for healthcare
- Increasing direct care for a nurse or personal support worker per long term care resident to 4 hours a day over 4 years
- Purchasing nearly $1.1 billion in PPE
- Support
- $380 million for parents ($200 per child) up to 12 years old, and $250 per child and youth with special needs up to 21 years of age
- An additional $1.3 billion towards education for 2020-2021
- A Seniors’ Home and Safety Tax Credit
- $300 million in supports for small businesses in COVID-19 hotspots
- $60 million in one-time grants for main street small businesses
- Black youth action plan ($60 million over 4 years)
- Recover
- Making electricity rates more affordable
- Large industrial and commercial employers will save about 14% to %16
- $4.8 billion in supports to create conditions for economic growth
- Lowering the business education tax (BET)
- Reducing property taxes on job creators
- Proposing to provide municipalities with the ability to cut property tax for small businesses and a provincial commitment to consider matching these reductions
- Additional $680 million for broadband infrastructure over the next 4 years (nearly $1 billion over the next 6 years)
- Employer health tax credit relief
- Investing an additional $100 million for the 2020-21 Employment Ontario skills training programs for workers most affected by COVID-19
- $331 in savings for businesses through Red Tape reduction
- $25.5 million for Agri-food production and control innovation program
- Blueprints for modernizing auto-insurance
- 20% tax credit for the tourism industry
- 94% of businesses will benefit from these reductions
And much more…
The Government has charted a prudent course that provides the necessary resources to deal with COVID-19 while continuing Ontario’s leadership in being transparent and accountable about the Province’s finances. In March, Ontario was the first in Canada to release a fiscal outlook that reflected the impacts of the COVID-19 crisis.
We are projecting a deficit of $38.5 billion in 2020-21, unchanged from the deficit forecast at the time of the 2020-21 First Quarter Finances update. Over the medium term, the Government projects steadily declining deficits of $33.1 billion 2021-22, and $28.2 billion in 2022-23. This incorporates the most up to date economic information and includes new additional supports for the pandemic response and recovery.
“The government of Ontario has taken its cue from the people which is why we are leading the way in not only protecting and supporting, but leading to recover as well” said MPP Bouma.
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For more information please email will.bouma@pc.ola.org or call (519) 759-0361