Ontario's Tax Plan for Jobs and Growth
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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 more >
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The 2009 Budget announces significant measures to preserve and create jobs today. These initiatives will help people weather the current economic storm and will also contribute to Ontario’s future competitiveness by enhancing the province’s infrastructure base, investing in the skills and knowledge of its workforce, and supporting key sectors.
The McGuinty government is taking immediate steps to preserve and create jobs now and prepare for future growth, future employment and future opportunity for all Ontarians.
To build Ontario’s economy for the future, the McGuinty government is proposing a comprehensive tax reform package that would modernize its tax system and make Ontario an even better place to live, work and do business.
The current global economic crisis should not prevent society from helping its most vulnerable members. Reducing poverty gives people opportunities to achieve their potential and strengthens the economy.
Recognizing the economic challenges facing Ontario, the McGuinty government continues to protect and enhance key public services.
Learn more about initiatives in the 2009 Budget for health, education and other sectors.
2009 Ontario Budget Highlights
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