The Ontario government released their Fall Economic Statement last week outlining the government's plan to strengthen the health care industry, build critical infrastructure, and invest in the workforce.
The statement included many investments to key infrastructure in the Far North and rural First Nation communities, the Staycation Tax Credit, and the raising of the minimum wage.
Greg Rickford, Minister of Northern Development, Mines, Natural Resources, and Forestry said in an interview the province and Northern Ontario showed up in spades in the statement.
“This is an exceptional set of circumstances, a budget well before the traditional budgets are rolled out. We felt like we had to set that pivot right for the province and northern Ontario,” said Rickford.
Ontario committed close to $1 billion to support the planning and construction of an all-season road network, and other projects for remote First Nation communities in the Far North.
The province is doubling its annual $1 billion investment in the Ontario Community Infrastructure Fund program that will bring the investment to nearly $2 billion over the next five years beginning in 2021-22.
The additional investment will help 424 small, rural, and Northern communities build and repair roads, bridges, and water and wastewater infrastructure.
Rickford brought up renovations to the Far North Act by request from the Nishnawbe Aski Nation.
“Taking off the designation of provincial parks that the previous government had put on, kind of stifling their opportunity to grow their communities and to work with the province,” added Rickford.
To boost tourism and the Ontario economy the province has proposed a temporary Staycation Tax Credit for 2022. This would provide each resident up to a $2,000 tax credit to discover Ontario.
Rickford concluded with speaking briefly on the proposed minimum wage increase to $15 an hour.
“Helping out the front-line workers and the folks that have been hit particularly hard during the pandemic and a bit of a refresh.”
Included in the Fall Economic Statement was the province's deficit is projected at $21.5 billion this fiscal year, $11.6 billion lower than the 2021 Budget outlined, which is due to strong economic growth within the province.