Fall Economic Statement provides update on finances

November 29, 2018 · 0 Comments

by SYLVIA JONES

On Nov. 15th, Minister of Finance Vic Fedeli released the Fall Economic Statement updating Ontarians on the current state of our finances. Since forming government June 29th, we have focused our efforts on restoring accountability, trust and transparency to the government, as well as improving affordability across the province.

Without a single layoff, tax-hike or reduction in front-line services, we have already saved Ontarians $3.2 billion. We have also been able to provide significant tax relief for businesses, individuals and families.

We have eliminated a $308 million tax increase that was included in the previous government’s 2018 budget. During the election, Ontarians asked for relief and in this Fall Economic Statement, we have delivered.

Many individuals and families in Dufferin-Caledon will be pleased to learn about the Low-Income Individuals and Families Tax Credit (LIFT) that eliminates provincial taxes for individuals with an income of $30,000 or less. This change will make a significant difference for 1.1 million Ontarians.

We are tackling the challenges faced in our business sector and committing to reduce red tape by 25 percent by 2022. I recently met with a number of Dufferin-Caledon small businesses and business organizations at a roundtable and heard many suggestions and ideas that will move us towards this goal. Businesses know what is best for businesses. These roundtables are focused on finding out what is working, what is not, and where changes need to be made.

The new Housing Supply Action Plan is our plan to expand the supply of homes and rental properties in Ontario. This plan is focused on our population growth and is working to make sure that the housing supply in the province keeps up with demand.

We are adding 6,000 long-term care beds in Ontario. Additionally, we are adding 1,100 beds and spaces to hospitals and communities, as well as $1.9 billion on addictions and mental health treatment. Many seniors and families who are providing care for elderly relatives know very well that the wait time for an LTC bed has increased. I am pleased that we have a plan that is working towards easing the wait time for both seniors and patients.

Since June, we have been working hard to deliver on our commitments. Everything we are doing is to help make life more affordable for Ontarians and to encourage businesses to work, grow and prosper in Ontario. It has been about cleaning up government and re-opening Ontario for business. I am proud of the work our team has done.

If you would like to read the Fall Economic Statement, please visit my website: sylvia.jonesmpp.ca

If you have any specific questions about provincial issues, please contact my office at 519-941-7751 or email [email protected].