Ontario Budget 2017 Link pdf
Highlights include the following;
a)1.5 Billion dollar deficit. Projection to be break even 2018
b) Ontario will provide free prescription medications to all children and youth aged 24 and under, regardless of family income.
Starting in January 2018, the new program will completely cover the cost of all medicines funded through the Ontario Drug Benefit program — with no deductible or co-payment. This will include medications to treat:
c) Electricity relief
Starting this summer, household electricity bills would be reduced by 25% on average through the proposed Fair Hydro Plan. Approximately 500,000 small businesses and farms across Ontario would also benefit. In addition, bills would not increase beyond the rate of inflation for the next 4 years.
d) proposing a new 15% tax on the price of homes in the Greater Golden Horseshoe bought by people who aren’t citizens or permanent residents of Canada or by non-Canadian corporations. This would help to address speculation, particularly in large urban centres like Toronto and Hamilton
e) Proposing to expand rent control to all private rental units, including those built after 1991. This would strengthen protection for tenants against sudden, dramatic rent increases and help make sure everyone has a safe and affordable place to call home.
f) Affordable public transit for seniors
Seniors tax credit to help cover the cost of public transit with the proposed Ontario Seniors’ Public Transit Tax Credit. The refundable credit would provide a benefit of 15% to seniors on eligible public transit costs starting July 1, 2017.
g) New OSAP, including free tuition for more than 210,000 students
h) Ontario Basic Income Pilot
Ontario is moving forward with a basic income pilot to test whether a basic income could be a simpler and better way to provide security and opportunity in a changing labour market, support people living on low incomes and reduce poverty. This pilot will start in late spring in Hamilton, including Brantford and Brant County, and in Thunder Bay and the surrounding area. The third pilot will start by this fall in Lindsay.
April 13, 2017