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The Edelman Perspective - Ontario Budget 2018


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Edelman Canada's Perspective on the Liberal Ontario Budget 2018

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The Edelman Perspective - Ontario Budget 2018

  1. 1. Doug Ford “Today’s budget includes massive tax increases that will hit 1.8 million hard-working Ontarians and their families, as well as tens of thousands of businesses. Shockingly, this budget includes $2 billion in new tax increases over the next three years… The only good news in this budget for the people of Ontario is that this will be Kathleen Wynne’s last budget.” 2018 overview Premier Kathleen Wynne released her final Budget before the June 7 election. This budget boasts a 2017 surplus of $600 million. Although previously promising to balance the books, the Liberals are proposing a deficit equal to one per cent of GDP – potentially as high as $6.7 billion. To support new investments the government is proposing to raise personal income taxes on those earning $92,000 +, which will result in 1.8 million Ontarians paying approximately $200 more annually. Conversely, roughly 680 000 people are expected to see personal income tax reductions. Although this Budget is being presented 2 months out from the provincial election, it is essentially the Liberal election platform. The Ontario PC Party has said they will eliminate $6 billion of spending through found savings, although to date, they have not laid out any details of that plan. health care The cornerstone of Budget 2018 is increased investments to healthcare directed at increasing mental health support and reducing wait-times. Earlier this year, the government implemented OHIP+ which provides free prescription drugs for anyone under 25. Budget 2018 expands this coverage to all Ontarians over 65. The Budget also includes substantial investments in mental health care, promising a four-year investment of $2.1 billion and $822 million to address overcrowding and wait times. infrastructure Earlier this month, the Premier announced that $9-billion of federal and provincial funds earmarked for infrastructure will go to Toronto for a slew of transit projects, including the Scarborough subway extension, a downtown subway relief line, a Yonge subway extension, and the “Smart Track” plan. In today’s budget, there was further investment of $160 million on new and upgraded infrastructure including the electrification of the UP express. There will also be a further $11 billion dedicated to high- speed rapid transit spanning from Toronto to Windsor. ontario provincial BUDGET TOM CHERVINSKY Account Director Public Affairs, Toronto DAVID MESSER Vice President Public Affairs, Toronto $146 BILLION IN NEW PROGRAM SPENDING reactions $61.3 billion to healthcare $28.2 billion for education $12.5 billion for interest on the debt $2.2 billion for free childcare for those 2.5 years and up starting in 2020 NDP “Better to look good than feel good: Kathleen Wynne’s final budget is a disappointing, last-ditch pitch for votes – with the details failing to live up to her vote-grabbing hype.” Edelman Toronto | March 2018 | 150 Bloor St. West | Toronto ON M5S 2X9 | 416-979-1120 $2 billion in revenue from Cap and Trade next year alone (to be reinvested in carbon reduction initiatives) $500 million to expand broadband in rural and remote areas $1 billion over 3 years for supporting home care Ontario Chamber “Although the Government is making smart investments in skills development, the ever-rising cost of doing business in Ontario is hindering economic growth,” said Rocco Rossi, President and CEO. “The Ontario Budget not only fails to provide the offsets our members need, it will leave some businesses, including small businesses, paying more in taxes.” Unifor Canada “Ontario budget’s investments in public services show continued momentum towards social justice and effectiveness of political activism.” Environmental Defence “Ontario’s Budget 2018 shows continued commitment to protecting the environment, fighting #climatechange and building a clean economy”