The first budget from Ontario Premier Doug Ford and his “Open For Business” government predicts that the province, like the rest of Canada, is headed for an economic slowdown.
In attempting to kick-start the province’s motor, the Ontario Tories are following the lead of the federal Liberal government. “By providing faster writeoffs of capital investments, this incentive will encourage businesses to invest in Ontario now and create jobs for the people of Ontario,” the budget says.
That rate, the budget says, will fall to 12.6 per cent in 2019 from 16 per cent last year, below the 18.7 per cent average in the U.S. this year following tax reform. However, with the tax help, the province is not predicting it will crack the 2-per-cent mark for annual economic growth in any year between now and 2024.
Sure, let’s implement the outdated trickle down economics approach that actually does nothing for the people and further increases corporate profit margins. Great job Dougie, you really are a govt for the people. (In case you’re wondering this is sarcasm)
I like how there's spending cuts and no new taxes.