Ontario’s budget is good news for consulting engineers
July 15, 2014
By Canadian Consulting Engineer
Ontario's re-elected government re-announced its 2014 Budget on July 14. This time, with a majority in the legislature the Liberals should not have any trouble having the budget passed.
Ontario’s re-elected government re-announced its 2014 Budget on July 14. This time, with a majority in the legislature the Liberals should not have any trouble having the budget passed.
Minister of Finance Charles Sousa began his speech with “As I was saying … and proceeded to deliver the same budget as in the spring.
The budget holds good news for consulting engineers. One of its main features is an investment in infrastructure — $130 billion over the next 10 years.
The investment includes:
• New dedicated funds that would make nearly $29 billion available over the next 10 years to build a seamless and province-wide transportation network by investing in highways, public transit, roads and bridges. The funds will be divided by population, with the Greater Toronto and Hamilton Area (GTHA) receiving $15 billion and other regions of Ontario receiving nearly $14 billion.
• $1 billion to develop strategic transportation infrastructure in the Ring of Fire and unlock the North’s economic growth and jobs potential.
• More than $11 billion in modernizing elementary and secondary schools over the next 10 years.
• More than $11.4 billion in major hospital expansion and redevelopment projects over the next 10 years.
• New or expanded post-secondary campuses.
The budget also includes government promises to support business through local and international partnerships, through global trade missions and job-creating partnerships.
The government will also introduce a mandatory retirement pension plan for the almost 3 million Ontario workers without a workplace plan, and will continue rolling out full day kindergarten.
The government also promises to eliminate the provincial deficit by 2017-18.
To read the budget, click here.