PROVINCIAL UPDATE: Ontario Supports Businesses, Workers and Families during COVID-19

Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued the following statement regarding the monthly employment release by Statistics Canada:

“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.

2020 Budget and, Ontario’s Action Plan: Protect, Support, Recover, committed to $15.2 billion as part of the 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).
  • 4.8 billion in initiatives that will support jobs 
  • Making electricity costs more competitive for commercial and industrial consumers, saving customers an average of 14 to 16 percent.
  • 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 percent of employers would pay no EHT.
  • 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.

Read the full news release HERE via Ontario.ca

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