The Ford government’s pandemic budget is resulting in total spending of $187 billion dollars.
Finance Minister Rod Phillips notes it will not come without a hit to the deficit.
“Our deficit is projected to be $38.5 billion unchanged from what I reported in the first quarter finances this summer,” Phillips explained.
He adds that the number is expected to drop to $33.1 billion next year and $28 billion the following year.
The finance minister adds in an effort to help Ontarians during the pandemic the government will be increasing health investments for a total of $45 billion over three years.
The government is also spending an additional $572 million in Ontario’s hospitals to support additional costs of COVID-19, including testing, assessment centres, laboratory and medical equipment, and PPE.
There is also $18 billion in capital grants over 10 years to build new and expanded hospital infrastructure and address urgent upgrades, including repairs and maintenance.
Phillips indicates to help offset some of the additional costs of COVID-19, parents will once again receive $200 per child under age 12 and $250 for children and youth with special needs age 21 and under.
To help seniors stay in their homes the Province is proposing a new Seniors’ Home Safety Tax Credit for the 2021 taxation year, which would provide a 25 percent credit on eligible renovations of up to $10,000.
The government is planning to spend $4.8 billion in business initiatives including a reduction of electricity prices, reducing taxes on jobs, and providing workers with skills training — including those impacted by the pandemic, such as tourism and hospitality workers — to help them connect to jobs needing high-demand skills.
Thunder Bay Chamber of Commerce President Charla Robinson is pleased with what is being proposed for business saying, “The range of businesses that could be eligible for a number of these different things, it really is across the spectrum to super small business all the way to big business…there’s something for everyone.”
Not surprisingly the budget is getting a thumbs down from Thunder Bay’s two MPPs.
Liberal Michael Gravelle points out there is no new money for COVID-19 testing or contact tracing, while the NDP’s Judith Monteith-Farrell would have liked to have seen more support for schools during the pandemic.
