ontario budget 2016

Mr. Speaker, a lot of this work has been spearheaded by one of the most compassionate Ontarians I know …. In 2016, the government is continuing to support the growth of the financial services sector by: The government is playing a leadership role towards the establishment of the Cooperative Capital Markets Regulatory System (CCMR). Today … students from full-day kindergarten to college, university and apprenticeships are getting ready for today’s jobs and tomorrow’s opportunities. Additionally, the government is investing $26 million to support energy-efficiency initiatives for SMEs, $74 million for new technology innovation initiatives for large industrial emitters, and a further $92 million in social housing energy retrofit initiatives. Turning the Corner. Most importantly, Mr. Speaker, our plan means more Ontarians will enjoy a more secure retirement, meaning Ontario’s economy will be stronger. The project will bring together intermediary organizations to support the development of early-stage, high-growth social enterprises. We want to sustain that growth, Mr. Speaker …. Increasing the global competitiveness of Ontario’s businesses through the five-year, $400 million Business Growth Initiative. Over the past year, an expert advisory panel has been reviewing the mandates of the Financial Services Commission of Ontario (FSCO), the Financial Services Tribunal (FST) and the Deposit Insurance Corporation of Ontario (DICO), with the goal of modernizing the regulation of financial services and pension plans, and increasing agency accountability. The Province’s success in creating new business opportunities is exemplified in the following quotation from Dr. Paul Stoffels, Chief Scientific Officer and Worldwide Chairman, Pharmaceuticals, Johnson & Johnson: “We are pleased to be collaborating with the Ontario government on this exciting initiative to support scientists and entrepreneurs who are working on new frontiers in science and medicine to transform health care. On average, each social enterprise employs 38 people and generates $1.2 million in revenue. Google Canada announced an expansion of its workforce in Waterloo to 400 workers, up from four workers 10 years ago. The government will continue to support Ontario’s dynamic craft beer industry by extending funding for the Ontario Microbrewery Strategy.
This project is creating seven new jobs.Â.

Beyond this time, the intention would be for OLG to establish a future, longer-term funding arrangement with the industry. Independent economic analysis demonstrates that a targeted and balanced approach to investing proceeds will mitigate the risk of carbon leakage, help stimulate Ontario’s economy and create jobs.

Quadrant 1: Promote a level playing field and tax fairness Building on existing programs to support home energy efficiency (see box below), the Ontario Energy Board recently approved annual budgets and demand side management (DSM) programs. And even though we have one of the highest attainment rates in the world …. See Chapter III, Section B: Fiscal Outlook for details regarding cap-and-trade proceeds. British Columbia has the lowest general CIT rate of 11 per cent and Nova Scotia and Prince Edward Island have the highest general CIT rate of 16 per cent. In 2015, it accounted for 390,000 jobs across the province, generating almost 10 per cent of Ontario’s GDP. Foster the growth of the first North American Chinese currency trading hub, established in March 2015 in Toronto. Home About Us Budget Credits, Benefits Economy Taxes FAQs News Contact Us. To ensure each of us has what we need to compete and win …. In partnership with Enbridge Gas Distribution and Union Gas, the program will help about 37,000 homeowners conduct audits to identify energy-saving opportunities and then take actions, such as replacing furnaces or water heaters and upgrading insulation. So it’s time, Mr. Speaker … that we look ahead to what our kids will need next.Â. In 2015, for the second year in row, Ontario was ranked first in North America for foreign direct capital investment by fDi Intelligence, the research division of the Financial Times Ltd. International companies choose to invest more in Ontario than in any other place in North America. The Red Tape Challenge is also part of the Province’s Open Government commitment to create a more transparent, accessible and collaborative government. And in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The conclusion that a cap-and-trade program is beneficial to households is supported by the experience of the Regional Greenhouse Gas Initiative (RGGI), a cap-and-trade program for greenhouse gas emissions from power plants in the northeastern United States.5 Research commissioned by RGGI concludes that “in the end, consumers gain because their overall electricity bills go down as a result of state RGGI allowance revenue investments, primarily in energy efficiency but also renewable energy-focused programs.”6. Search. It will build on Ontario’s existing strengths and oversee the province’s shift towards new areas of economic growth in the knowledge economy.

To build on these strong fundamentals in Ontario’s business environment, the government continues to take positive steps to further support economic growth and job creation. We know that people who have a degree or diploma can expect to earn more than people who don’t.

In 2016–17, we will increase funding for hospitals by $345 million, including the first increase to hospital base budgets in five years. Quadrant 2: Foster innovation and support new business Examples of Programs Supporting Home Energy Efficiency. Giving us a competitive advantage over other places where they’ve decided to put their emissions reductions off for another day. The sector helps finance new investment and economic activity across other sectors of Ontario’s economy. The government has undertaken critical investments to support innovation in Ontario. It will help small and medium-sized businesses scale up, helping them become global leaders. Through the Strategic Partnerships Stream of the Jobs and Prosperity Fund (JPF), the government will accelerate the development, commercialization and widespread adoption of made-in-Ontario disruptive technologies. 2 Deloitte, “The Age of Disruption: Are Canadian Firms Prepared?” (April 2015). This year’s Budget continues to improve the supports that lift people out of poverty. In 2004 Ontario exported $228.5 billion of goods and services, with goods exports accounting for $197.9 billion or 86.6 per cent of total international exports, while service exports accounted for $30.6 billion or 13.4 per cent of total international exports. Quadrant 4: Ensure a coordinated government approach is taken, - Last Modified: Wednesday, July 20, 2016, Fostering a More Innovative and Dynamic Business Environment. That is why Ontario, through its Business Growth Initiative, will focus on fostering the development and commercialization of disruptive technologies and their adoption throughout its key economic sectors.


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