The Honourable Rod Phillips, Minister of Finance, has released the 2019 Ontario Economic Outlook and Fiscal Review. The budget, usually tabled early in the year, is generally preceded in the fall by another major statement, the Fall Economic Statement. 1 ��L��Z}�fS3T9¹@Xc���JV�U�:‰��-��}� � Refreshing the Sale of Beverage Alcohol in Ontario.

The First Quarter Ontario Finances is released on or before August 15 and the Third Quarter Ontario Finances is released on or before February 15. ��+�}i�s�����ݥ��z;�{�T�l�s@x�[���k�ӠΩe��ʇ �?3z��N��ݣ�/�ڵX8I���&����qӊ���%��4�1k���Ո��M��N�/�cHyJK2�I�H��t�eC����� Industrial electricity rates are one of the top factors affecting business competitiveness in Ontario. We would have preferred to see a revenue-neutral restructuring of the Small Business Deduction (SBD) to encourage scaling up of small businesses. , we recommend introducing a Rural Investment Tax Credit (RITC). The 2019 Fall Economic Statement highlighted Ontario’s economic and fiscal outlook as well as issues such as the province’s projected debt, its …

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OCC Response:

The OCC applauds this decision given that contraband takes away revenue from the Province, Ontario accounts for the lion’s share of contraband tobacco in Canada, and the profits are used to fund organized crime. While the OCC is pleased with commitments to review existing generation costs and help businesses navigate the electricity system, more can be done to reduce industrial electricity rates. Economic and Fiscal Update 2019 (December 16, 2019) Archived. While the OCC is pleased that the government will introduce legislation that, if passed, would pause wine and beer tax increases, we encourage them to take a comprehensive approach to reforms. The economic statement:

��Y7�'&jc���^�M�a�u���b���=���Qn��ҽ����A�~d� &=�N���Ww�A�W_R�ˀ�]}�-��[��#����hOO���%�s����&J��u1 �iy�;-;���Hk�������'��W%�S�h>gr�M�N[�qG��>�R��]-�\~ϴ�F����f�B��A��� �ͤ}��� .YJu �� On November 6, 2019, the Ontario government released its fall economic statement, 2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build Ontario Together (Fall Statement). Archived information is provided for reference, research or recordkeeping purposes. The 2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build Ontario Together proposes an additional $1.3 billion in spending to address gaps felt by the province, many of which were a result of program and policy changes put forward by the same government since taking over in June 2018. ^���x�?�����_���mL��L�i:8�6/˗޿�ұ^W�k6=1��d��A��� �x^��g� ѥ_��A�otf�p(1��6��2��v Develop an “Ontario Small Business Success Strategy” in which it will host consultations to better identify the needs of small businesses. This acts as a financial barrier to many of Ontario’s attractions, particularly in northern and remote communities, where other forms of travel may be infeasible for visitors. Province Releases Fall Economic Statement.

This acts as a financial barrier to many of Ontario’s attractions, particularly in northern and remote communities, where other forms of travel may be infeasible for visitors. The OCC has also asked for a Forestry Strategy. Minister Phillips outlined the government’s forecasted economic growth and sought to demonstrate how investments will be made to critical public services and create jobs. The OCC applauds this decision.

An update of the Province's fiscal outlook as of the second quarter of the fiscal year is included in the Fall Economic Outlook and Fiscal Review, which is released on or before November 15. The OCC looks forward to participating in these consultations with government. November 6, 2019. endstream endobj 343 0 obj <>stream N�����94���{8[����.�������A�,uLo� �\�_�LmP2��/QH���MU�O,D��d�!92������

OCC response:

Ontario Minister of Finance Rod Phillips released the government’s 2019 Fall Economic Statement, Building Ontario Together.

Ontario’s Progressive Conservative government is reaching into its pockets for hundreds of millions of dollars to undo some of the damage caused by a year of cuts. A clear commitment and timeline on the government’s plan to implement an open allocation model for licenses for retail cannabis based on demand. In our beverage alcohol report, Refreshing the Sale of Beverage Alcohol in Ontario, the OCC undertook a comprehensive analysis on the tax issues facing all four categories – wine, beer, cider, and spirits. Current. �&����'��ogjR�)�(�d On November 6, the Government of Ontario released its 2019 Fall Economic Statement entitled, “2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build Ontario Together,” which provides an update on the government’s finances and announces commitments for the upcoming 2020 Budget. ����b�;�%P����|���z�����҂p `�v���Qπ�X*aH=X8g��ۘ��|^�E}���kMy���"蕞.U�莌d,�������M�跬��,� Ϯ�N�� PW�Kb��U'ā�T�]��7���iH霟��tu%�T#�c\.�v; ��rr&&Q^����Vf��3v��a�� ��[Q�["ml���mDg�$c�����C/[l�.�\���P�T]�b��Uc]�w�k��BdV%͔6��Y�*� 'Q9�p쇠�?�"D��1����l������ ��~y�C��7���p�4��n'�n�*�QkMn+і0�K����;�r���f�m4{��!A��8&Y;-=I¯h|\����Y���gK�^��Z���g�s�WTEP����3_���P}��A���'I����Rd>Iإ�T��a�s��g}}��+��~ ��K�������2�e�,��|ێ�N�Ն @ This blog post focuses on measures of interest to the financial services sector. As recommended in our recreational cannabis report, Supporting Ontario’s Budding Cannabis Industry, the OCC supports this decision as it offers a consumer-friendly option to purchase legal cannabis, allows retailers to better serve customers, and will help combat the illegal market. “Building Ontario together” is in. Cut the small business Corporate Income Tax (CIT) rate to 3.2 percent from 3.5 percent, starting January 2020. Amend legislation to allow authorized cannabis retail stores to sell cannabis online or over the phone, with pick-up by the consumer in-store (also known as click-and-collect).

Engage with rural stakeholders on the proposed Ontario Regional Immigration Pilot.

The OCC would have liked to have seen new announcements in the following areas: Subscribe to our mailing list and stay up to date on everything with the Ontario Chamber of Commerce, Ontario Chamber of Commerce © 2020 | Privacy Policy | Service Standard | Employment Opportunities In particular, we would like to see the government consider revisions to industrial rate structures to support businesses that have not benefited from existing programs, as recommended in our submission on industrial electricity rates.

Highlights include the following: The government’s deficit projection for 2019-2020 has improved by $1.3 billion. �x/�>����S�@5w�_"���tsv��0��A(��^�1�a�Д�n�yn3 The OCC is an accredited chamber of commerce, On November 6, the Government of Ontario released its 2019 Fall Economic Statement entitled, “, 2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build Ontario Together. An assessment of climate change impacts will enable the province to take meaningful steps to protect Ontarians and the economy.

Neglecting to consider taxation as it pertains to cider and spirits would serve to reinforce inequities between producers in Ontario.

Introduce legislation to pause wine and beer tax increases. Meaningful transformation in health care, particularly related to value-based care, digital health, and modernizing procurement and supply chain processes.

OCC response:

w��t7b�D�L��*��g�6s��c|Ƌcݻ˚��-L8I�r�4ƻ��k3�_�ln�g��o��=}׻�v(�Wi�&��-�E�2���[t��H6�V��,��<1�R��T�r�N�5�h�[+���0��;��"�"�@eF��D�s�o nIUK'w;jvn�=q\���� Ӥ. We are pleased to see movement on supporting innovation and competitiveness in this industry. endstream endobj 341 0 obj <>stream �\��df�;m�-�tG���Oa�m���f������U��i���Rym�S$6'���Xv���O��L�� f$#Ώ@�1��1P��W'W �� Simplify industrial electricity billing and introduce advisory services to assist businesses with navigating regulatory approvals and connection issues.



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