Ontario Supports Businesses, Workers and Families during COVID-19Published on November 06, 2020
Fifth-straight month of job creation indicates the provincial economy continues to stabilize
"Employment in Ontario has increased by 30,600 in October, marking the fifth straight month of overall employment gains. The total number of jobs created since June is 868,600, indicating that the provincial economy is gradually continuing to stabilize.
However, we know there is much more work to do, and maintaining a healthy workforce is critical to our economic recovery. That's why in the 2020 Budget tabled yesterday, Ontario's Action Plan: Protect, Support, Recover, our government committed $15.2 billion as part of our COVID-19 health response. That includes a $572 million investment in Ontario's hospitals to support additional costs of COVID-19, including testing, assessment centres, laboratory and medical equipment, and Personal Protective Equipment (PPE).
Our government is planning to invest $4.8 billion in initiatives that will support jobs now, while removing barriers that hold Ontario back from a strong recovery. We are making electricity costs more competitive for commercial and industrial consumers, saving customers an average of 14 to 16 per cent. We are providing tax relief, including a proposal to provide municipalities with the ability to cut property taxes for small businesses, reducing business education taxes and permanently increasing the Employer Health Tax payroll exemption to $1 million, which would mean 90 per cent of employers would pay no EHT.
In addition, we are providing $300 million available to assist eligible businesses in areas categorized as Control or Lockdown with costs associated with municipal and education property taxes, electricity and natural gas bills.
We are also supporting business during the pandemic by making investments through the Ontario Together Fund, supporting the Canadian Manufacturers and Exporters' Ontario Made program and creating the new Invest Ontario agency.
Our government is working each and every day to ensure a strong economic recovery for the business owners, workers, and communities who have been incredible in demonstrating the best of the Ontario Spirit. By working together, we will maintain our place as the economic engine of Canada and emerge from this pandemic as a more united and resilient province than ever before."