Ontario Provincial Budget DeliversPublished on April 18, 2019
The April MPP column in Our Community Voice
Our Community Voice, April 18, 2019 -- The 2019 Ontario Budget introduces no new tax increases and commits a projected $26 billion in much-needed relief to individuals, families and businesses over six years. With a responsible and transparent spending plan, the Government is setting a fiscal course to balance the Province’s books in five years. The initiatives announced in the April 11th budget will work towards restoring confidence in Ontario’s finances, bring immediate relief to families and businesses, and assure greater sustainability in the future of our healthcare and education systems.
In his budget address, the Ontario Minister of Finance stated: "We are restoring sustainability to government finances in order to protect what matters most. The previous government was spending about $40 million a day more than it was collecting in revenue. Our plan will make every dollar count so we can continue to invest in the critical programs like health care, education, and other services that the people of Ontario rely upon each and every day while protecting frontline workers."
The Government’s signature initiative in the budget, if passed, is a flexible Childcare Access and Relief from Expenses (CARE) tax credit. CARE will help about 300,000 Ontario families with up to 75% of their eligible child care costs per year. Families could receive up to $6,000 per child under seven, and up to $3,750 per child between seven and 16. CARE will also provide a rebate of up to $8,250 for a child with a severe disability. Eligible costs for the tax credit include daycares, home-based care, and camps.
Another key item in the budget, if passed, is the Government’s investment of $90 million to help with dental care for Ontario’s low- and medium-income seniors. It is an alarming fact that at least two-thirds of low-income seniors do not have access to dental care – and many end up in our emergency rooms as a result.
The budget also mentioned the Government's ongoing efforts to end hallway health care and put patients first by accelerating the development of 30,000 long-term care beds and delivering on mental health and addictions supports across Ontario.
There were a number of business-related initiatives announced helping Ontario businesses. For one, the Government is reducing business taxes earlier than promised by providing $3.8 billion in tax relief over six years to assist businesses making investments in machinery upgrades and expansions. This assistance is estimated to create between 50,000 and 93,000 net new jobs, and between $7 billion and $10 billion in net new business investment in Ontario.
To learn more about the 2019 Ontario Budget, connect with my Community Office or visit the website: www.Ontario.ca/Budget