Submission made ahead of March 26 budget meeting

Press Release with Chris O. edits

The Provincial Government of Ontario will be tabling this year’s budget at Queen’s Park on March 26.

To help steer that budget conversation, the Ontario Chamber of Commerce has put forth their own recommendations and the Muskoka Lakes Chamber of Commerce issued a press release on March 14 outlining some key points.

The main message is for the Province to “close Ontario’s productivity gap.” Eliminating the gap would help lessen the negative impacts to economic prosperity due to inflation, infrastructure backlogs, regulatory barriers, skills gaps, and other similar issues.

“Businesses across our region continue to feel the effect of the pandemic,” says Muskoka Lakes Chamber Chair Randy Heyd via media release. “We fully support the Ontario Chamber’s 2024 Budget Submission. This budget comes at a critical point for our businesses and economy. It must lay the groundwork for strong economic growth, building the infrastructure and workforce of the future, and modernizing regulation to ensure Ontario can attract investment and nurture entrepreneurship.”

Recommendations outlined in the OCC’s budget submission were developed in consultation with businesses of all sizes, labour unions, postsecondary institutions, non-profit organizations, industry associations and close to 150 chambers of commerce and boards of trade.

“In 2024 and beyond, productivity must be Ontario’s priority,” says Daniel Tisch, President and CEO of the OCC via media release. “Capital will flow where productive capacity is highest, and we want it to flow to Ontario. That’s why the budget must focus on policies that support immediate growth while investing in an educated workforce, long-term infrastructure, and healthy, sustainable communities.”

The Key Recommendations from the Ontario Chamber

• Empowering Ontario’s workforce and addressing labour shortages by advancing upskilling and reskilling initiatives, and scaling evidence-based interventions to increase participation of equity-deserving groups in the labour market.
• Cultivating business competitiveness and sustainable growth by improving access to private capital and credit for small businesses, removing barriers to interprovincial and international trade, and supporting key sectors such as clean energy, tourism and cannabis.
• Investing in resilient, healthy communities by tackling primary care and broader health human resource crises, combating growing rates of mental health and addiction challenges, and expediting the implementation of Ontario’s life sciences strategy.
• Building strong foundations through infrastructure by leveraging partnerships to build and preserve affordable housing along the continuum, investing in energy generation, transmission, and distribution infrastructure, and continuing to accelerate broadband rollout across the province.