March 28th Weekly Update

• New investments to support low-income seniors 
• An expansion to the Investing in Women’s Future’s program
• The new Ontario Made Manufacturing Investment Tax Credit, which will help local manufacturers grow, innovate, and create jobs

Ontario Helping Low Income Seniors

Ontario is supporting low-income seniors by proposing to expand the Guaranteed Annual Income System (GAINS) program to about 100,000 more seniors and indexing the program annually to inflation. The proposed extended GAINS program was announced as part of the 2023 Budget and would begin in July 2024. 

“Our government is working for the Ontario seniors who have built this province so they can live comfortably and with dignity,” said Peter Bethlenfalvy, Minister of Finance. “By expanding and annually indexing the GAINS program, we are providing financial support to more vulnerable low-income seniors and ensuring that when their costs rise due to inflation, our support also increases.”

The provincial government is also investing close to $1 million over three years to expand the Seniors Safety Line. This province wide resource is available 24/7 to help seniors who are experiencing or at risk of elder abuse, by connecting them with trained counsellors who can support and assist them.

“Our government is working hard for Ontario’s seniors. They deserve to have steady and reliable programs, services and income supports now and into the future,” said Raymond Cho, Ontario Minister for Seniors and Accessibility. “Increasing our investment in the GAINS program helps our most vulnerable seniors. They deserve dignity and respect, and this shows that our government takes the wellbeing of seniors very seriously.”

In addition to providing support for seniors, the government’s plan is taking significant actions to Build Ontario by driving economic growth, attracting new jobs and investments, and getting key infrastructure projects built faster. By working for workers, keeping costs down, and providing better services, the government is building a strong Ontario that is working for seniors, families, and businesses.

The Investing in Women’s Futures program provides a range of flexible services and employment readiness supports for women facing social and economic barriers, including those experiencing gender-based violence and social isolation. These services and supports help women to overcome any barriers, increase well-being, build skills and gain employment. The addition of 10 new sites brings the total number of service delivery locations to 33, providing greater access for more women across the province.

The 10 new Investing in Women’s Futures program locations are:

1. Huronia Transition Homes in Midland
2. Community Resource Center (Killaloe) Inc. in Killaloe
3. Keepers of the Circle in Kirkland Lake
4. Achēv in Mississauga
5. Resolve Counselling Services Canada in Kingston
6. Women’s Centre of York Region in Newmarket
7. Roots Community Services Inc. in Brampton and Mississauga
8. Up with Women in Toronto
9. Women’s Multicultural Resource & Counselling Centre of Durham in Pickering
10. Counselling Centre of East Algoma in Elliot Lake.

“As a girl dad, I want to build a province where no girl sees barriers to entering the trades. We need all hands on deck to build a stronger Ontario for all of us,” said Monte McNaughton, Minister of Labour, Immigration, Training and Skills Development. “This investment in the expansion of the Investing Women’s Futures program will help more women access the training and supports they need, start their own businesses, and find meaningful work so they can earn bigger paycheques while inspiring the next generation of girls.”

This $6.9 million investment builds on the $18 million funding from 2022-2025 to support the Investing in Women’s Futures and Women’s Economic Security programs.

To attract additional investment in the province’s economy, the Ontario government is announcing plans for a new Ontario Made Manufacturing Investment Tax Credit to help local manufacturers grow, innovate, become more competitive and create jobs.

As part of the 2023 Budget, the government will propose legislation that would, if passed, create a new 10 per cent refundable corporate income tax credit of up to $2 million a year for Canadian-controlled private corporations on qualifying investments in buildings, machinery and equipment for use in manufacturing or processing in the province.

“This new tax credit will give Ontario-based manufacturers another reason to invest in home grown, Ontario-made innovation and expand operations,” said Premier Doug Ford. “As we navigate global economic uncertainty, our government is working around the clock to ensure that we are creating the right conditions for Ontario’s world-class manufacturing sector to grow and create more jobs.”

The proposed Ontario Made Manufacturing Investment Tax Credit would, if passed, provide an estimated $780 million over the next three years in Ontario income tax support to qualifying businesses. Savings from the new tax credit is just one of the many initiatives the government has taken since 2018 to improve Ontario’s competitiveness by lowering costs for business.

“Our government is continuing to bring back the province’s manufacturing sector by attracting key investments and creating and protecting jobs in communities across the province,” said Peter Bethlenfalvy, Minister of Finance. “The new Ontario Made Manufacturing Investment Tax Credit is just one part of our plan to build a strong economy for the future, today.”

In 2022, Ontario secured more than 150 investment deals from a wide range of sectors including automotive, technology, manufacturing and life sciences. These investments will contribute to the creation and retention of thousands of good-paying jobs. Ontario’s Plan to Build will continue to improve the province’s competitive edge, while encouraging existing businesses to expand their operations, so the products of the future are made right here at home.