The Ontario Budget
March 27th, 2009 | Published in Blog, On Politics
In my critique of the federal budget, I said it was hugely regrettable that it had no focus or theme. While it had a lot of spending and huge deficit which Canadians accepted, it lacked purpose or vision. Most of that money was sprinkled all over the place diluting its impact and value.
Compare that to the Ontario budget that was tabled yesterday. It was a tough budget also containing a large deficit. However, unlike the federal budget, its themes were focused and clear.
The Ontario budget is unabashedly focused on stirring economic activities and improving our competitiveness. Here’s a list of issues that the budget addresses:
1) Infrastructure: Unprecedented investment in infrastructure projects that is even greater than what the federal budget had for the whole country. This will protect and create jobs as well as prepare the province for the future.
2) Green energy: Smartly creating incentives for new green energy projects and energy efficiency initiatives. This too will create jobs but will also help us become less dependent on fossil fuels and help the environment
3) Improving business competitiveness: By reducing corporate taxes and overall reforming the tax system (tax harmonization), the budget will make Ontario the most competitive region in North America attracting investment and stimulating activities
4) Protecting consumers: up to 10% cut in provincial income tax reduction, in addition to tax credit of up to $1,000/family
5) Protecting the vulnerable: Huge investment in affordable housing, increase minimum wage, increase child tax benefit and measures to protect seniors are some of the actions that this budget contains recognizing that in tough economic times the government must play a role in protecting the vulnerable so we can pull together as we dig ourselves out of this recession
Five major themes reflecting a thoughtful and wise Ontario budget. I am sure there will be critics and so there should be. These are difficult times and there will always be debates on how the government can address them.
Overall, the budget deserves our support





