The McGuinty government’s 2009 Budget lays out a plan to help families affected by the global economic crisis and positions Ontario to become more competitive for a more prosperous future.
The Ontario government is investing $34 billion over two years to stimulate the economy. This timely and targeted investment includes $32.5 billion in infrastructure spending and nearly $700 million in additional funding for skills training. This will preserve or create more than 300,000 jobs over the next two years to support Ontario’s families and communities.
The government is proposing to accelerate the phase-in of the Ontario Child Benefit (OCB) two years ahead of schedule, increase social assistance rates and invest in social housing infrastructure.
The Budget also proposes a comprehensive tax reform package that includes moving
to a single, value-added sales tax at a combined rate of 13 per cent on July 1, 2010. Over the next three years, the McGuinty government is proposing $10.6 billion in
tax relief for people. This includes $4 billion in transitional cash payments as well as ongoing, permanent tax relief. Business taxes would also be cut by $4.5 billion over three years.
Read background information on the 2009 Ontario Budget:
Learn more about initiatives in the 2009 Budget for health,education and other sectors. Read highlights of the Budget:
Find out more about the comprehensive tax reform package in the 2009 Ontario Budget.