Budget for 2023 will grow Ontario’s economy
It has undoubtedly been a busy few weeks at the Ontario Legislature. I am proud to announce that on March 23, the Ontario government released Ontario’s 2023 Budget: Building a Strong Ontario. This plan will grow Ontario’s economy by building infrastructure, attracting critical investments and improving services. This plan will lay the groundwork to eliminate Ontario’s deficit while delivering on the priorities of the people and businesses in Ontario.
The Ontario government is taking various measures to drive economic growth, lower business costs, attract investments and expedite infrastructure projects for a prosperous future.
- The Ontario Made Manufacturing Investment Tax Credit aims to reduce investment costs for local manufacturers seeking growth and expansion.
- We are investing over $180 billion over the next 10 years to build roads, highways, public transit, hospitals, schools and long-term care homes to support families, businesses and communities.
The government is also taking steps to support our workers by:
- Investing an additional $33 million over three years to add 100 undergraduate seats beginning in 2023 and 154 postgraduate medical training seats to prioritize Ontario residents trained at home and abroad starting in 2024 and from now on. Ontario residents will continue to be prioritized for undergraduate spots at medical schools in the province. This funding will contribute significantly towards the Scarborough Academy of Medicine and Integrated Health (SAMIH) at the University of Toronto Scarborough Campus.
- Providing $224 million in training centres: Expanding union training halls and leveraging private sector expertise to train more skilled workers.
- Investing an additional $25 million into the Ontario Immigrant Nominee Program: We welcome skilled newcomers to help build key infrastructure projects across the province.
We are committed to supporting the most vulnerable among us by:
- Expanding the Guaranteed Annual Income System: Starting July 2024, 100,000 more seniors will be eligible for indexed monthly payments.
- Investing over $200 million in Homelessness Prevention and Indigenous Supportive Housing Programs: Ensuring more people have a safe place to call home.
Furthermore, we are ensuring that everyone has access to the most critical services that our government provides:
- Allowing pharmacists to prescribe more medications for common ailments, making healthcare more accessible.
- Providing additional funding for home care, mental health and addictions and pediatrics.
- Investing $170 million over three years to support youth leaving the child welfare system, promoting financial independence and successful careers.
I am proud to see that this funding is making a huge difference within our community through projects like the Scarborough Subway Extension, the development of the Scarborough Health Network, and the first-ever medical school in Scarborough.
I look forward to keeping you updated on how your voices are being represented at the Ontario Legislature. Please sign up for my newsletter to stay up to date. You can sign up at vijaythanigasalam.ca. If you have any questions or concerns, you can contact my office at 416-283-8448 or by email at vijay.thanigasalam@pc.ola.org.