News: Investing in Ontario communities
INVESTING IN ONTARIO COMMUNITIES
Government Targeting Surpluses For Roads, Transit and Social Housing
NEWS |
March 12, 2008 |
The Ontario government is proposing legislation that would dedicate additional surpluses to Ontario's communities.
The proposed bill, which would be called the Investing in Ontario Act, would direct a portion of provincial surpluses to municipalities for infrastructure needs, such as improving roads and bridges, expanding transit and upgrading social housing.
Currently, the government is required to use all year-end surpluses to help reduce provincial debt.
QUOTES
“The proposed Investing in Ontario Act would strike a balance by ensuring that surpluses would go to both debt reduction and to government priorities,” said Ontario Finance Minister Dwight Duncan. “Investing in municipal infrastructure not only addresses the capital needs of our communities, but it also creates more jobs in the short term and prosperity in the long run.”
"This proposed legislation is another clear demonstration of our government's commitment to treating municipalities as true partners in building stronger Ontario communities," said Municipal Affairs and Housing Minister Jim Watson.
“This is another significant step in the province’s commitment to partnering with municipalities to help ease the infrastructure challenges they are facing,” said Doug Reycraft, President of the Association of Municipalities of Ontario.
QUICK FACTS
- The government launched a $300-million Municipal Infrastructure Investment Initiative last fall and recently announced it will invest another $150 million in the program.
- The 2007 Economic Outlook and Fiscal Review included an additional $1.4 billion to build strategic infrastructure to encourage economic activity and help municipalities.
LEARN MORE
Learn more about the Provincial-Municipal Fiscal and Service Delivery Review, the government’s commitment to working toward a sustainable, provincial-municipal relationship.
See how Ontario is helping to build infrastructure across the province.
Learn more about what's happening in Ontario's municipalities.
|
Steve Erwin, Minister’s Office, 416 325-3645 |
ontario.ca/finance-news |
