Ontario budget 2023

Toronto has been left in the lurch by Queen's Park after the 2023 Ontario budget revealed little in the way of a financial rescue for the cash-strapped ...

“You’re going to see potentially a decrease in services if the city can’t cover those costs.” “That was their number one ask.” Toronto officials were also hoping that the province would cover the cost of the development charges the city would no longer receive as a result of Bill 23, which slashed the fees in order to spur the construction of more housing.

Finance Minister Peter Bethlenfalvy says his plan shows that it is possible to balance the budget while still investing in areas such as health care, ...

There are few new affordability measures in the budget, but the government is expanding the Guaranteed Annual Income System, which provides payments to low-income seniors. Ontario also points to inflation as one reason for increasing reserves on the books. The province is adding $51 million over three years to a dedicated offload nurses program, in order to free up paramedics. Ontario is also spending $80 million over three years to shore up future health-care staffing by increasing post-secondary nursing program enrolment. As well, $15 million will be spent to keep 100 mid-to-late-career nurses working, though officials didn’t detail exactly how that money will be used for retention. On the expense side of the ledger, Ontario continues its infrastructure-heavy plans with more than $20 billion in highway, hospital and transit projects.

An increase in tax revenue allowed the Ontario government to drastically reduce its deficit projections in its latest budget. Read more here.

[[email protected]](mailto:[email protected]) The government said it was investing an additional $202 million each year in housing for homeless populations or those who are at risk of homelessness. Ottawa has made a $4.4 billion down payment and committed $15.3 billion towards incremental health care investments over the next three years to clear surgery backlogs and enhance the healthcare system. If passed, the government anticipates this proposal will bring an estimated $780 million in income tax support for qualifying businesses over the next three years. “Unlocking Northern Ontario’s critical minerals is key to the economy of the future.” The deficit is expected to fall further to $1.3 billion in fiscal 2023-2024.

The Progressive Conservative government's latest fiscal plan projects a return to balance sooner than previously expected but warns of economic uncertainty.

It cited progress preparing the site for private development as an entertainment destination and pledged to “bring Ontario Place back to life.” Ontario also plans to beef up its health care work force with an additional $33-million over the next three years to accelerate the rollout of training seats for doctors, resulting in an additional 100 undergraduate and 154 postgraduate positions. As Ontario’s budget approached, along with the federal budget expected next week, Toronto Deputy Mayor Jennifer McKelvie recently urged both of these governments to provide relief for what she called the “COVID hangover.” (Ms. The province later promised to make municipalities whole for any cut in development charges, which cities use to build parks, community centres and other infrastructure. Transit capital spending will total around $70.5-billion over the next decade – about the same as the projection for school and hospital construction combined. Ontario’s net debt-to-GDP ratio is projected to be 37.8 per cent in 2022-23, the lowest since 2011-12, attributed to the lower than forecasted deficit and higher economic growth. Even though the pandemic has begun to recede, its financial effects remain substantial. Ontario’s budget also includes an updated strategy to reduce the province’s debt burden with new targets to improve its credit rating and lower the cost of borrowing. Interest on debt-to-revenue is projected to be 6.9 per cent in 2023-24. The Ontario government is projecting to balance the books by 2024-25, three years earlier than forecasted in last year’s budget. For this fiscal year ending March 30, Ontario is expecting a deficit of $2.2-billion, far lower than the projected $19.9-billion hole predicted at this time last year. Employment growth is also expected to remain relatively stagnant, with a 0.5-per-cent increase projected this year.

The City of Toronto will receive the $48 million requested from the province to help provide supportive housing programs.

TORONTO, March 23, 2023 (GLOBE NEWSWIRE) -- The Ontario Federation of Labour (OFL) calls the 2023 Ontario Budget another missed opportunity to address...

And the Ford government has the wrong ones. The government’s Worker Income Protection Benefit, administered through the Workplace Safety and Insurance Board, provided a maximum of three days paid sick leave and was set to expire at the end of this month. A no-strings-attached corporate tax break of up to $780 million over three years is absolutely the wrong move, says the OFL. “The Ford government has touted this budget as ‘staying-the-course’. “Uncertain times require bold leadership, and the Ford government has once again failed to deliver with this budget. The government has enough money to cover the shortfalls in health care and education.

Largest budget in history · Balancing the budget · Pharmacy prescriptions: · New provincial park: · Protected area in Uxbridge · Tax credit for manufacturers · Health ...

government includes record-high health-care spending in 2023-24 budget](https://atlantic.ctvnews.ca/n-s-government-includes-record-high-health-care-spending-in-2023-24-budget-1.6325763) CTVNewsOttawa.ca looks at what you need to know about President Biden's second day in Ottawa. There was no winner Thursday night so the total prize money is now an estimated $1,526,067. A young Strathroy, Ont. 10 hr ago 8 hr ago 11 hr ago 9 hr ago 6 hr ago relationship, including protectionism and migration on both sides of the border. President Joe Biden arrived Thursday evening in Ottawa for a whirlwind 27-hour visit expected to focus on both the friendly and thorny aspects of the Canada-U.S. Last year Ontario pledged to create a new provincial park.

The document included few new spending lines or flashy announcements — and it didn't put a single new cent on the table to help Toronto address its yawning ...

who represent 70 per cent of the population of Toronto, their top asks were for mental health support and for addiction support.” The city asked for money to address COVID-19, shelters and supportive housing. “The Big City Mayors …

Despite the prospects of layoffs across Ontario's school system, Doug Ford's 2023 budget has no additional funds earmarked for education, leaving the ...

“So we’ve seen program cancellations, bussing cancellations, I’m not sure what the boards are going to do to make ends meet going forward.” This includes $1.1 billion in 2022-23 and $1.6 billion in 2023-24 to reduce child care fees. [reported](https://pressprogress.ca/doug-fords-budget-includes-a-hidden-1-3-billion-decrease-in-education-funding/) that the Ford government found that the school system experienced a $1.3 billion funding “decrease” due to changes in these revenues – including a drop in bake sales and other “school fundraising” activities during the pandemic. “The Ministry of Education plans to spend $1.5 billion in 2022-23 and $2.3 billion in 2023-24 under the Agreement. [warned](https://www.cp24.com/news/tdsb-warns-of-cuts-to-student-programs-services-if-ontario-government-does-not-reimburse-pandemic-related-costs-1.6324432) of a round of program cuts if the province does not provide [$70 million](https://www.cbc.ca/news/canada/toronto/tdsb-ontario-government-pandemic-costs-1.6787897) to recoup its COVID-19 costs. Adjusting for changes to last year’s interim expenses, Ontario’s 2023 budget notes that the education system saw a $47 million spending cut due to a reduction in “non-government revenue”:

Ontario Minister of Finance Peter Bethlenfalvy tabled the province's 2023 Budget on Thursday, March 23, 2023. Read more. Insight.

The review will also focus on modernizing administration tools, including improvements to simplify tax administration by creating a more convenient and modern digital platform. The new rate would come into effect on July 1, 2023, and will replace the four separate basic tax rates currently applicable. After 2025, qualifying investments would include expenditures for machinery and equipment used in the manufacturing or processing of goods for sale or lease that are included in Class 43(a). - Extending tax credit eligibility to professional film and television productions made available exclusively online. - Qualifying investments in Class 1 include expenditures for buildings used for manufacturing or processing in Ontario that become available for use on or after March 23, 2023. The credit will be available to Canadian-controlled private corporations (CCPCs) that make qualifying investments and have a permanent establishment in Ontario.

The Ontario budget touted the co-fare program. It's in all of the GTA but not Toronto. There's no timeframe when it will come to the TTC.

As the Ford government reveals its provincial budget, opposition parties give their reaction to its spending plans. Guests: Catherine Fife, NDP MPP, ...