2013 ontario budget

0000002219 00000 n 0000001922 00000 n h�bbd```b``� "��j�2DZj�H�xi�D�$ IF��`�`� RW�WDrE��7�D�2$��~0 �n, This will be covered by eliminating the deduction for businesses with more than $5 million in annual payroll. Health spending will have a 2.3% annual increase this year, and average a 2.0% increase over the next three years. 0000000016 00000 n There are a few new measures relevant to registered pension plans, and there is a change to the Employer Health Tax exemption. Entitled "A Prosperous and Fair Ontario," the Budget focused on deficit reduction and initiatives that the Government believes will stimulate economic growth and assist those in need.

2013 ONTARIO BUDGET - 2 - Schedule of Outstanding Debt As at March 31, 2013 Date of Maturity Date of Issue Series Interest Rate (%) Outstanding ($) Reference DEBT ISSUED FOR PROVINCIAL PURPOSES NON-PUBLIC DEBT To Canada Pension Plan Investment Board: Year ending March 31

(The fact that many of the Commission’s recommendation were high on the NDP wish list was certainly a consideration as well.).

It proposes a wide range of investments focused on strengthening the economy, promoting job creation, and reforming social assistance, while continuing with program spending restraint in order to eliminate the deficit by 2017-2018. The Budget is projecting a deficit of $9.8 billion for 2012-13, $5 billion lower than projected a year ago, and increasing to $11.7 billion for 201314. {��J�U�2��Y��Ra��b��,��K��.�*��\��?��="SE%8a�=��HH��|Q��N� ?�2.��=��4�K�J��/��5|� 0000002053 00000 n In line with recent statements by the Premier, the Budget notes that “the government will seek the involvement of communities” in moving ahead with renewable projects, but no specifics are provided. The Northern Industrial Electricity Rate program announced in 2010 will be extended for an additional three years at a cost of $360 million, as a means to enhance competitiveness and protect jobs at mills and mining-related facilities.

0000038077 00000 n The Ministry of Health and Long-Term Care remains the largest share of Budgetary expenses, holding the line at 41.8% of total program spending in 2013-14. All rights reserved. 0000001005 00000 n The largest change comes with the Employer Health Tax credit, currently granted to all businesses for their first $400,000 of payroll. recent pilot funding for an RMP for the Corn-fed Beef Sector. THE 2013 ONTARIO BUDGET On 2 May 2013, the Honourable Charles Sousa, Ontario’s Minister of Finance, tabled the government’s budget. On apprenticeships, the government may use Infrastructure Ontario procurement policies to further support apprenticeships. However, these growth numbers have softened since the 2012 Budget due to global economic conditions, making the government’s job even more difficult. � �_m@�0w$-��g�:2#�L <]/Prev 86428>> A Prosperous and Fair Ontarioaffirms the deficit forecast for the past year as $9.8 billion, a $5 billion improvement from the 2012 Budget forecast. 0000001215 00000 n 0000001085 00000 n w}�p� ��";�X}}'�[B��AAӀ�A�ӫozB��k@�Jܴ��9h��iD��z�f/H��|g]�Y��/��܈��ᙗo��0s�X/F�Gx�M�!�� .

Establishing panels to have ‘conversations’ and make recommendations on streamlining or eliminating business tax credit and grant programs, and on a framework for increasing the minimum wage. �fb+ �a`�� Once again, the story is ‘steady as she goes’ on education. 0 Allowing social assistance recipients to keep the first $200 per month in employment earnings before benefits are reduced, Removing barriers for Ontario works recipients to receive self-employment income, Increasing the rates for both Ontario Works and disabilities benefits. 05/02/2013 04:05 EDT | Updated 07/02/2013 05:12 EDT Ontario Budget 2013: $35 Billion In Infrastructure Spending Over 3 Years Diana Mehta, The Canadian Press CP 0000002860 00000 n

%%EOF New money is directed at expanding summer learning programs, targeted to improve achievement rates for at-risk students, with additional funding to support Aboriginal students. endstream endobj startxref The fund would also grant $20 million to On Campus Accelerator Centres (such as Ryerson’s Digital Media Zone and Waterloo’s VeloCity Program) to encourage entrepreneurial activity. For the coming year, the deficit is forecast to come in around $11.7 billion. xref It also anticipates 1.2 per cent job growth in 2013, with the projection that by 2016, Ontario will have created nearly 400,000 net new jobs compared to 2012.