Ontario Premier Kathleen Wynne announces free child care for pre-school children beginning in 2020 at a news conference in Toronto
While the Ontario government balanced its budget past year, it's now returning to deficits as a result of the new programs and spending.
Several high-profile announcements were made in recent days by the liberal government, the latest of which included $2.2 billion pledged to make preschool free for children aged 2-and-a-half years to four, free prescription drugs for seniors costing $575 million and a total of $2.1 billion for mental health services expansion.
Highlights from the 2018 Ontario budget, unveiled by Finance Minister Charles Sousa Wednesday.
After generating a surplus of C$642 million ($499 million) in 2017-18 - the first in a decade - the government of Canada's most populous province is forecasting a budget gap of C$6.7 billion in the fiscal year starting April 1.
"We have a choice to make, there are people in this province, people who are saying they still need more support. mental health, hospitals, childcare - when you look at families without benefits they're looking for supports too".
Progressive Conservative Leader Doug Ford has slammed the budget as proof that Wynne will "promise anything to cling to power" but the premier rejected that criticism while speaking with CP24 on Thursday.
A new report authored by a University of Toronto for the Ontario government is calling for free licensed child care in the province for children age 2½ to kindergarten. The program would cost $800 million in its first two years and reimburse up to 80 per cent of eligible prescription drug and dental expenses, up to $400 for singles and $600 for couples, with an additional $50 for each child. Real GDP growth is expected to slow to 2.2 per cent in 2018, and fall to 1.7 per cent by 2021.
"I really don't accept this suggestion that this budget is a left budget", she said. "It's likely we won't see these big projects come to fruition", he said.
Aside from borrowing, the province will rely on cannabis sales coming on stream and personal income tax reform to help pay for all of its new committments.
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The budget also lays out health-sector spending announced last week, including a base funding increase of $822 million for hospitals.
By the 2020-21 fiscal year, it's expected to bring in a net income of $100 million.
The Liberals will also hike tobacco taxes again, continuing a three-year plan to increase the price per carton by $10 by 2019-20. As physical space and staffing capacity at licensed child care centres is increased, greater affordability for infant and toddler care should also be phased in.
That assumes they'd be able to form a government not only in this year's election on June 7, but in the next vote as well.
The Liberals also plan to introduce a program to help cover costs of pharmaceutical drugs and dental care for Ontarians without workplace benefits, regardless of income or pre-existing OHIP+ coverage.
"The responsibility we as government have is to what happens going forward".
"While there are some elements in the budget that we're happy to see, these new tax measures will only add to the cumulative, growing burden of doing business in Ontario", said Timmins Chamber President Jamie Clarke.
Goldring said he also applauded the provincial government for supporting the not-for-profit Habitat for Humanity, which will receive $5.8 million over three years to establish a build factory in the Burlington. McDonell was asked if Eastern Ontario was ignored in this budget.
The Daily Commercial News will have industry reaction to the budget in an upcoming article.
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