“In its absence, we all get poorer, because there is a necessary link between a growing economy and our ability to invest in world-class government services and supports for our most vulnerable,” he said. While the message is clear on reprioritizing Ontario’s critical services, Minister Phillips also announced a few measures to keep Ontario open for business, including the reduction of the small business Corporate Income Tax rate to 3.2 per cent from 3.5 per cent, which will save businesses an estimated $1,500 annually. @ This blog post focuses on measures of interest to the financial services sector. All “The gloomy outlook that keeps being provided is to just make way for these cuts that are in fact going to hurt the most vulnerable in our province,” said Singh. Oil Prices and the Canadian Dollar 3.4. Business Investment and Exports 3.5. November 6, 2019.
expressly prohibited without the prior written consent of Toronto “When we talk about Ontario, some of us will recall when we were a top 10 North American jurisdiction, on par with our neighbours to the south like New York, who today is number five,” he said, referring to per capita gross domestic product.
Continued Job Growth 3.6. The First Quarter Ontario Finances is released on or before August 15 and the Third Quarter Ontario Finances is released on or before February 15. Republication or distribution of this content is Ontario Health Insurance Plan (OHIP), which account for almost 60 per cent of total health sector spending in 2018-19. 1. �h6incќ�s�R�̧Y��m�q,g9(��hf��Z0Kp�̧��f��S Star Newspapers Limited and/or its licensors. endstream endobj startxref “We are, without question, living in uncertain times. The health of the Ontario's deficit is now expected to be $9 billion for this fiscal year, down from the $10.3-billion projection in the budget. Phillips said that’s why the government is “focused on improving our competitiveness and productivity. 2018 Ontario Economic Outlook and Fiscal Review Ontario’s Plan for the People The Government for the People is taking immediate action to reduce the Province’s deficit, while making Ontario more affordable for individuals, families and businesses, and making Ontario open for business. 1990 0 obj <>/Filter/FlateDecode/ID[<2FA2D058E665FA40A7FCE4932D269C7E>]/Index[1978 20]/Info 1977 0 R/Length 78/Prev 572521/Root 1979 0 R/Size 1998/Type/XRef/W[1 3 1]>>stream On November 6, 2019, the Ontario government released its fall economic statement, 2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build Ontario Together (Fall Statement). An update of the Province's fiscal outlook as of the second quarter of the fiscal year is included in the Fall Economic Outlook and Fiscal Review , which is released on or before November 15. endstream endobj startxref These initiatives build on the Ford Government’s directive to cut red tape and reduce regulatory burden for Ontario’s business community.
In a major speech to a Bay St. audience Thursday, Phillips revealed the fall economic statement would come on Nov. 6, and said boosting the province’s competitiveness is paramount. The province also announced the establishment of a Premier’s Advisory Council on Competitiveness as well as a new Regional Development Program which will kick off with a public consultation on how to encourage investment in rural and undercapitalized areas.
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