MPP Steve Clark (file photo)
Ontario’s Finance Minister, Peter Bethlenfalvy, unveiled the 2023 Economic Outlook and Fiscal Review: “Building a Strong Ontario Together,” and MPP for Leeds-Grenville-Thousand Islands and Rideau Lakes, Steve Clark has offered his two cents.
The update supports responsible economic growth, with over 170,000 new jobs in 2023 and substantial population growth. It also introduced measures like the Ontario Infrastructure Bank, tax incentives for rental housing, and increased funding for investment attraction.
Moreover, it extends tax rate cuts and enhances breast cancer screening access.
Clark said in a statement, “I’m proud that our government is making investments to upgrade and replace critical infrastructure more quickly.”
He added, “At the same time, today’s Fall Economic Statement continues our work to make life more affordable, create new economic opportunities and improve health care for residents of Leeds-Grenville-Thousand Islands and Rideau Lakes.”
Minister Bethlenfalvy emphasized that together, Ontario can navigate current uncertainties and forge a robust future.
It appears the effort comes with a cost. The spring budget projected a 1.3-billion-dollar deficit this year, then getting to balance in 2024-25 with a small surplus.
Yesterday’s update has Ontario 5.6 billion dollars in the red this year and with a 5.3-billion dollar deficit next year, followed by a small surplus in 2025-26.
(With CP Files)
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