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London MPPs tout Ontario's 2009 Budget
In a joint media release issued Thursday, all three of London's Liberal MPPs – London-Fanshawe's Khalil Ramal, London West's Chris Bentley, and London North Centre's Deb Matthews, pointed to the positive aspects the announced budget has for Londoners. The three London MPPs plan to host a post-budget open house Friday (March 27), 8 a.m., at the North London Optimist Community Centre, in Room #3. From job creation, investments in communities and innovation focused on places of higher learning, the budget ensures the future of London and Ontario is strengthened, said London's MPPs. "We're creating jobs by making Ontario stronger and more competitive. Comprehensive tax reform will keep and attract jobs, creating opportunities for London families," said Bentley. Matthews said the McGuinty government is taking a balanced approach with the 2009 budget, "by creating jobs, investing in communities and making Ontario more competitive," she said, adding the budget also plans to increase support for children, families and seniors. "Our government is ensuring that the future of Ontario is strengthened by an exemplary knowledge and innovation base," said Ramal. "Ontario's graduates will benefit directly from investment in innovation that's focused on places of higher learning, creative business initiatives and biomedical research." The area of competitiveness and job creation will be boosted by $4.5 billion in business tax cuts, including an 18 per cent cut to the small business tax rate and the elimination of the small businesses deduction surtax which is a barrier to growth, and the cost-saving transition to a single, value-added sales tax at a combined rate of 13 per cent on July 1, 2010, said the joint media release. Over the next three years the province is proposing a $10.6 billion in tax relief for families which would see eligible families with an income of $160,000 or less getting three payments of $1,000, and eligible single people with an income of $80,000 or less getting three payments of $300. The first benefit payment would arrive in June 2010, the second in December 2010 and the third in June 2011. Local MPPs also pointed to the accelerated phase-in of the Ontario Child Benefit (OCB), two years ahead of schedule, as a benefit to London families. The OCB will provide low and middle-income families with up to $1,100 annually per child. Increased social assistance rates and $1.2 billion more for social housing province wide will be a benefit. London's post-secondary institutions, the University of Western Ontario and Fanshawe College, will be given a share of almost $700 million in additional province-wide funding for skills and literacy training. The Southwest region's innovation economy will also benefit from its share of $785 million to support innovation, including $300 million for research infrastructure and $100 million in support for biomedical research focusing on genomics and gene-related research. The ongoing investment of at least $100 million in the London Health Sciences Centre and St. Joseph's Health Centre's Phase Two expansion is included in the province's pledge of $32.5 billion in infrastructure spending to create jobs and build future competitiveness. In addition, London's green economy is in line for a share of the $390 million and $250 million Emergency Technologies Fund which aims to help create 50,000 green jobs province wide. "Through this budget, the McGuinty government is helping families who are being hurt by the global economic crisis," said Ontario Finance Minister Dwight Duncan. "But we're doing much more than that. With our comprehensive tax reform, we're making Ontario stronger and more competitive, and that will help our families and businesses when prosperity returns. This is the single most important thing we can do to create jobs and position our economy for future growth." AT A GLIMPSE: 2009 ONTARIO BUDGET Preserving and Creating Jobs Today *$32.5 billion for infrastructure projects over the next two years, supporting an estimated 146,000 jobs in 2009-10 and 168,000 jobs in 2010-11. *Nearly $700 million over the next two years to new skills training and literacy initiatives and enhancements to existing programs. *Increased funding for summer employment opportunities for youth to nearly $90 million, which would benefit more than 100,000 young people this summer, including youth in high-needs communities. Investing in Children and Families *$400 million more in children's benefits over the next three years, providing low- and middle-income families with up to $1,100 annually per child in Ontario Child Benefit payments starting this July, providing additional payments to 115,000 families. *$1.2 billion to renovate 50,000 social housing units and build 4,500 new affordable housing units for low-income seniors and people with disabilities. Creating Jobs Tomorrow Green Jobs for Tomorrow *Approximately $390 million to match Ontario's estimated share of the federal Green Infrastructure Fund to develop initiatives that assist in the implementation of the proposed Green Energy and Green Economy Act, 2009. Accelerating Innovation *$250 million over five years for a new Emerging Technologies Fund that will include investments in green technology. Comprehensive Tax Package *Starting July 1, 2010, pending legislative approval, Ontario would move to a modern, single value-added sales tax to make Ontario more competitive and lead to job creation. Four Canadian provinces and more than 130 countries have adopted a value-added tax structure, which is more efficient than a retail sales tax and would enhance the ability of Ontario businesses to compete and grow. *Books, diapers, children's clothing and footwear, children's car seats and car booster seats, and feminine hygiene products would be exempt from the provincial portion of the single sales tax *To support new housing, newly constructed homes under $400,000 would not be subject to an additional tax burden. Buyers of new homes valued between $400,000 and $500,000 could also claim a proportional rebate. *A proposed $10.6 billion in temporary and permanent tax relief for people over three years to help consumers through the transition, and to provide a permanent personal income tax reduction and enriched ongoing sales tax and property tax relief for low- to middle-income people. Eligible families with an income of $160,000 or less would get three payments totaling $1,000 to help them adjust to the new single sales tax. Eligible single people with an income of $80,000 or less would get three payments totaling $300. The first benefit payment would arrive in June 2010, the second in December 2010 and the third in June 2011. The government is also proposing: *One of the most generous sales tax credits in Canada, providing low- and middle-income Ontarians with a permanent refundable credit of up to $260 for each adult and child $1.1 billion in income tax cuts, giving Ontario the lowest provincial tax rate in Canada for the first tax bracket. *The 2009 Budget proposes $4.5 billion in tax cuts for businesses over three years, making Ontario more competitive among its trading partners. Once fully implemented, the comprehensive tax reform package would cut Ontario's marginal effective tax rate on new business investment in half, making Ontario one of the most competitive jurisdictions in the industrialized world for new investments. Starting July 1, 2010, the government would: Cut the general Corporate Income Tax (CIT) rate from 14 per cent to 12 per cent and reduce the rate to 10 per cent by 2013 Cut the CIT rate for small businesses from 5.5 per cent to 4.5 per cent Cut the CIT rate for manufacturing and processing – helping businesses including farming, fishing, mining and logging – by 16.7 per cent, from 12 per cent to 10 per cent Eliminate the CIT small business deduction surtax, making Ontario the only Canadian jurisdiction that would eliminate this barrier to growing small businesses Exempt more small and medium-sized businesses from the Corporate Minimum Tax and cut the CMT rate from four per cent to 2.7 per cent. Responsible Fiscal Management *The global economic crisis has reduced government revenues significantly. The forecasted deficit is due to a significant deterioration in revenues and short-term measures to stimulate the economy, not to significant increases in core program spending. *The 2009 Budget forecasts deficits of $3.9 billion in 2008-09 and $14.1 billion in 2009-10. It lays out a plan to balance the budget by 2015-16 with the same prudent management that eliminated the $5.5 billion deficit that the government inherited in 2003. Competitive Government To increase efforts to manage spending while protecting core public services, the government will: *Identify $1 billion in efficiencies in 2011-12 *Generate savings in the broader public sector by proposing certain mandatory procurement activities, such as collaborative purchasing *Propose freezing MPPs' salaries at their current level for the 2009-10 fiscal year *Reduce the size of the Ontario Public Service by five per cent over the next three years through attrition and other measures. |
| This budget is a joke. Let's not forget that the Liberal Gov with the help of the Conservatives gave themselves a 25% raise in 2006. Have they provided the same increase for people living in poverty. Have they increased the miniumun wage by 25%? |
| By: Joe on 03/27/2009 |
| They give the money this year because people could use it now. Who cares about next year. What are we suppose to do this year? The price of food has gone were the raise we are suppose to get odsp. The $100 a month , no it's only 2% . Wow . What can we do with that? Come on government . Help us more than you are. We have kids to feed! |
| By: karen on 03/29/2009 |
| This is unreal the money they are sending to to help with the 13% tax. think of the seniors we didnt all get good paying jobs with all the medical and other plans.And any one making 16000.00 and gets a 1000.00 per family with family think of us we pay the same for food,oil, heating, etc They want us to live in our own homes as long as we can What a laugh .Shame and i will make sure I dont vote for dalton next election just giving us our own money back.Your nose is growing longer every day I hope the people see throught this and reject this budget.All right for the rich not the poor .Start standing up to this budget |
| By: annoyed senior on 03/29/2009 |
| We have a commercial building in London on one acre that we would like to convert to affordable housing for wheel chair or people with a development disability. Do you have financing for this type of project or other related housing that is needed today? Please let me know what is available and feel free to forward my e-mail to anyone that you know that may be able to assist us in developing this site for residential use. Thank you, Nic Gallo -- nicgaloo@yahoo.com |
| By: nic gallo on 04/24/2009 |
| it seems to me all the gov. is interested in is g.m. they should help their seniors its a joke they think we can live on what they give each mt.my husband is 58 and cant find work so we both have to live on that meeger amount yet they send millions abroad i dont mind helping anyone as long as i can eat too. |
| By: misty on 06/02/2009 |
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