Sensible Measures Will Invest in People

Kitchener, ON – Ontario Finance Minister Dwight Duncan announced the framework for Ontario’s 2008 budget. At the core of the announcement was increased investment toward skills training, an overall reduction in business taxes, and an increase in capital infrastructure.

A pragmatic approach was embraced by the Finance Minister indicating that the provincial government is aware of challenges facing Ontario’s communities including the need for job skills training and support for manufacturers. A total of $750 million in tax reductions over 4 years will assist manufacturers on competing in global markets. A new export development program for small and medium sized enterprises was also announced.

“The budget announcement [March 25, 2008] encourages skills upgrading for Ontarians,” commented Todd Letts, President & CEO of the Greater Kitchener Waterloo Chamber of Commerce. “The retroactive elimination of the Capital Tax and extension of the capital cost allowance by 3 years, are well-timed and will help to reduce the pressures on local manufacturers, keeping them more competitive and keeping jobs in Ontario.”

The budget also included continued investment in the 401 expansion at the Windsor border – a move that is important to Waterloo Region exporters. Waterloo Region employers eagerly await two pending reports on provincial/municipal service delivery and manufacturing.

The provincial government has shown their commitment to improving access to primary health care with an investment of $53 million for 50 more family health teams in rural and under-serviced communities, and an additional $38 million for nurse practitioner-led clinics, among other initiatives.