The budget announces plans to proceed with the long awaited Provincial Land Tax Reform. The budget did not announce any changes to the Ontario personal income tax rates. TORONTO -- Here are the highlights of the Ontario budget introduced by Finance Minister Charles Sousa on Thursday:-- Ontario's deficit will be reduced from $10.9 billion to $8.5 billion in 2015 … As announced in the 2015 Federal budget on April 21, 2015, the gross‐up factor and dividend tax credit with respect to the non‐eligible dividends will be adjusted. Government Support Group 7. In the first year, residential taxpayers in unincorporated areas will pay an additional $10 per $100,000 of assessed value in 2015 rising to $40 per $100,000 of assessed value in 2016. The Government is providing the forest industry with $60 million for the Forest Access Roads Program in 2015-16. -- Insurance companies will be required to give drivers a discount for using winter tires on their vehicles. Ontario is committed to delivering the best possible value for every dollar spent, while continuing to make investments that create jobs, expand opportunities and secure prosperity for all Ontarians. 2015 Budget Reports 5. -- All other areas will face average decreases of 5.5 per cent a year until the deficit is eliminated, but they represent only 16 per cent of government's total program spending. Stay on top of what's happening on the Hill with Rachel Aiello's updates on the minority Parliament when it's in session.
The budget continues to honour the Provincial-Municipal Fiscal and Service Delivery Review upload agreement of 2008. This is a slight improvement to the Government’s original plan for a 2016 envelope of $500 million. Don Martin, the former host of CTV News Channel's Power Play posts his take on the federal politics issues of the day.
04/23/2015. Program spending for 2015-16 will be $131.9 billion with a deficit of $8.5 billion. The government is investing in people today and giving Ontarians the support they need to get the right skills and the right jobs, to build the strong economy of tomorrow, by: Learn more about developing a highly skilled workforce. Building Ontario up Investing more than $130 billion over 10 years in public infrastructure, the largest infrastructure investment in Ontario’s history – a plan to get goods and people moving Modest changes of municipal interest include: Required form 'CaucusSelection' does not exist. read. Listen and subscribe to get a weekly update with the newsmakers who matter. budget, Trudeau says he has faith in U.S. vote process, as Trump makes unsubstantiated claims of fraud, Trudeau says hoped-for COVID-19 vaccine faces distribution hurdles in the new year, Freeland grilled over cost of pandemic aid as House fast-tracks rent relief bill, PBO says feds can spend more, but wiggle room has shrunk due to pandemic, Trudeau speaks with Macron amid furor over his response to attacks in France, Why experts say Trudeau staying quiet on U.S. election uncertainty is necessary, Power Play: Trump takes aim at electoral system, Power Play: Biden urges calm as he nears victory, CTV National News: Biden on the edge of victory, CTV National News: Trump's baseless claims. 2016 Budget Reports 6. An announcement on these changes is expected prior to 2016. -- $50.8 billion for health care, the single largest government expenditure, which is projected to grow an average of 1.9 per cent a year over three years. The Ontario Municipal Partnership Fund envelope will be $505 million in 2016. -- $100 million a year will be raised with a new tax on all beer sold in Ontario as part of modernization plan that will allow some grocery stores to sell six-packs of beer. Download the CTV News app now. When Ontario invests, it is building — and when it is building, it is growing. Public Safety 10.
Ontario is supporting people and providing opportunities they need to reach their full potential, by: Learn more about a fair society: llving and working in Ontario. Today Finance Minister Charles Sousa delivered the 2015 Provincial Budget entitled, “Building Ontario Up.” On the whole, the budget delivers only modest changes from last year’s plan. The budget includes specific details regarding GTHA transit projects over the next ten years. -- $25.2 billion for education, which will grow by two per cent a year, while funding for post-secondary education and training will hold steady at $7.8 billion. Change the address on identification cards, Investing more than $130 billion over 10 years in public infrastructure, the largest infrastructure investment in Ontario’s history – a plan to get goods and people moving, Unlocking the value of provincial assets – to invest in new public infrastructure that will create jobs, boost productivity and revitalize communities, Partnering with business to create jobs and secure prosperity for all Ontarians, Developing a highly skilled workforce – to invest in people today and give Ontarians the support they need to get the right skills and the right jobs to build the strong economy of tomorrow, Building a fair society – to help people achieve their full potential and help our province become an even better place to live, Sound fiscal management – a disciplined focus on finding smarter, better ways to deliver the best possible value for every dollar spent, while continuing to make investments that create jobs, expand opportunities and secure prosperity for all Ontarians, $31.5 billion over 10 years for Moving Ontario Forward — about $16 billion in transit projects in the Greater Toronto and Hamilton Area (GTHA) and about $15 billion in transportation and other priority infrastructure projects outside the GTHA, $11.9 billion in 2015–16 on infrastructure, such as roads, public transit, water systems, hospitals and schools, broadening Hydro One ownership to create lasting public benefits and ongoing public protections, investing an additional $200 million in the Jobs and Prosperity Fund to spur innovation and create jobs, convening an experienced group of senior business leaders who will bring their capital, knowledge and networks to help Ontario start-ups scale up, maintaining electricity pricing supports for qualifying large northern industrial facilities, working on increasing regional trade and investment with Quebec, continuing to improve education and skills training, from preschool and full-day kindergarten through to postsecondary education and trade apprenticeship programs, with innovations such as experiential learning pilot programs, investing an additional $250 million over the next two years in the Ontario Youth Jobs Strategy, bringing the total investment in youth employment programs to more than $565 million, modernizing the Ontario Student Assistance Program to strengthen financial assistance for students, investing in at-risk youth with the next phase of the Youth Action Plan, stopping sexual violence and harassment, and improving support for survivors through It’s Never Okay: An Action Plan to Stop Sexual Violence and Harassment, increasing investments to home and community care services by an average of five per cent per year, or more than $750 million over the next three years, strengthening workplace pension plans and introducing the Ontario Retirement Pension Plan in 2017 to help ensure that working Ontarians have a more secure retirement future, examining how every government dollar is spent, using evidence to make better choices and improve outcomes, looking across government to find the best way to deliver services, taking a multi-year approach to find opportunities for program savings, making sure that any modest wage increases negotiated through the collective bargaining process are offset by savings. As a result, the combined federal and Ontario Finance Minister Charles Sousa unveils the cover of the budget at the Old Credit Brewing Co. Ltd. in Port Credit, Ont., on Wednesday, April 22, 2015. TORONTO -- Here are the highlights of the Ontario budget introduced by Finance Minister Charles Sousa on Thursday: -- Ontario's deficit will be reduced from $10.9 billion to $8.5 billion in 2015-16, falling to $4.8 billion in 2016-17 and return to balance by 2017-18.
Despite the tough financial context for the budget, with his 2015 budget, the Minister of Finance is putting forward several new initiatives to facilitate Ontario’s growth. The 2015 Ontario Budget is building Ontario up through priority investments that create jobs, expand opportunity and secure prosperity for all Ontarians. Learn more about Infrastructure: the largest investment in Ontario history. Net proceeds from provincial asset sales will be reinvested through the Trillium Trust into transit and road projects. Canada's Most Trusted News. -- $9 billion expected to be raised from the sale of 60 per cent of Hydro One, the giant electricity transmission utility, $4 billion of which will be devoted to public transit. The Province will continue to take a “thoughtful and deliberate approach” to the path to a balanced budget, with a deficit of $4.8 billion forecast for 2016-17 and a return to balance by 2017-18.