Ontario’s 2013 Budget — A Prosperous and Fair Ontario — makes strategic investments that will grow York Region’s economy, create jobs for its youth and takes action to eliminate the deficit by 2017-18.
The 2013 Ontario Budget proposes a prosperous and fair Ontario by:
The deficit for 2012-13 is now estimated to be $9.8 billion — a $5.0 billion improvement compared with the 2012 Budget forecast. The recently ended fiscal year marks the fourth straight year that the province has reported a deficit lower than projected — the only government in Canada to achieve this level of success.
In addition to beating the deficit target for 2012-13, the province is projecting an improvement of more than $1.0 billion from the $12.8 billion deficit projected in the 2012 Budget for 2013-14. Program spending in 2013-14 is unchanged from the 2012 Budget projection. Beyond 2013-14, the government is on track to meet the steadily declining deficit targets outlined in the 2012 Budget and achieve a $0.5 billion surplus in 2017-18.
Collaborating with key partners and stakeholders, the government is laying out a six-part economic renewal plan that will help seize new opportunities for growth and job creation in York Region:
1. Competitive business climate — supporting a competitive tax system and effective regulation promotes new business investment for job creation and economic growth
2. Modern infrastructure — investing in transit, roads, schools, and hospitals is a key foundation for a productive economy
3. Highly skilled workforce — investing in skills and education, as well as job creation for youth, ensures the people of the province can work and prosper
4. Promoting entrepreneurship and innovation — strengthening Ontario’s ability to transform ideas into innovative goods and services for the global economy
5. Going global — working with business to expand market access for goods and services beyond Ontario’s borders to other provinces, the United States and emerging economies
6. Vibrant and strong communities — helping all communities and regional economies benefit from job creation and economic growth.
The new government will also continue to take steps to provide more support for York Region families by making smart investments in the economy. It will protect the most vulnerable, and build safer and stronger communities.
Ontario’s 2013 Budget will build a fair and prosperous Ontario for the benefit of all.
"Ontario Budget 2013 provides much needed support for the Markham-Unionville business community. The increase of the Employer Health Tax exemption up to the first $450,000 of payroll will help small to medium-sized businesses with their bottom lines."
- Michael Chan, MPP, Markham-Unionvillle
Read highlights of the Budget
Read background information on the budget:
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