By Cecilia Nasmith
Port Hope and District Chamber of Commerce joins the Ontario Chamber Network in applauding the Government of Ontario's 2021 budget Ontario's Action Plan: Protecting People's Health and Our Economy.
Port Hope Chamber Chief Executive Officer Brenda Whitehead noted its support for the hardest-hit sector and the concerns people (including Port Hope residents) are faced with.
“Aid for women who have been deeply impacted by the pandemic, initiatives that will create a strong economic rebound related to tourism, training and vital infrastructure, such as broadband, will help bridge gaps that are happening in these challenging times,” Whitehead said in the press release.
“Resources need to be focused on those hardest hit by the pandemic, where they will have the greatest impact,” the bulletin said.
OCC President and Chief Executive Officer Rocco Rossi stated that the budget gives businesses much-needed supports to confront the current health crisis, while laying the foundation for a strong and inclusive recovery.
Leading up to the budget, both the Port Hope Chamber and the OCC prepared a pre-budget submission calling for measures to bring this about. These included targeted support for the hardest-hit sectors and communities, demand-driven skills programming, enhanced access to capital for small businesses and entrepreneurs, bold action on inter-provincial trade, strengthening of municipalities' fiscal capacity, and a sensible path to getting Ontario's finances on track post-pandemic.
“Women's fulsome participation in the labour market is a precondition to our economic recovery and future prosperity,” said the report's author Claudia Dessanti, Senior Policy Analyst of the Ontario Chamber of Commerce.
“A task force for inclusive economic growth, further supports for child care, a job-training tax credit, relief for the tourism industry and support for survivors of domestic violence are all welcome initiatives that will help turn the tide on the impacts that were so severe and immediate for women in Ontario.”
The press release spotlighted some of the more noteworthy measures in the budget.
A task force for inclusive economic growth – The COVID-19 crisis has disproportionately affected certain communities such as women, racialized individuals, Indigenous people and those with disabilities. The new task force will examine how to increase a diversified participation in the work force, which will support economic recovery.
Temporary Job Training Tax Credit – Studies suggest about half a million jobs lost to the pandemic are not expected to return, most of them occupied by women, Financial support for under-employed individuals to access training and reskilling will be particularly important for lower-income workers, new immigrants and those living in Indigenous, rural, remote and northern communities.
Child care support – Access to affordable child care is a long-standing issue that was exacerbated by the pandemic. Enhancing the CARE tax credit for 2021, extending financial support for virtual learning costs, and investing in new child-care spots will help ease the burden for Ontario families (and allow more women to re-enter the workforce).
Supports for women fleeing domestic violence – The increase in domestic violence incidents during the pandemic has forced many women to leave their homes and communities, jeopardizing their safety and livelihood. Support for women in transitional housing and underserved areas will help provide safety for women in vulnerable situations.
Doubling the Ontario Small Business Support Grant – The grant has helped many organizations survive the crisis so far – and making it an automatic top-up instead of asking businesses to reapply will reduce the administrative burden at both ends.
Additional resources for the Digital Main Street Grant – Many small businesses (especially in rural and remote regions) have benefited from this grant in getting their businesses on-line. Expanding the program will help more businesses digitize and prepare for the economy of tomorrow.
Invest Ontario Fund – Additional funding over the next four years will be important to creating jobs and investment across the province.
Tourism and Hospitality Small Business Support Grant – Previously ineligible for the Ontario Small Business Support Grant, the hotels, travel agencies, hunting and fishing camps and other tourism-industry organizations will welcome the news of this new grant.
Local Tourism Tax Credit and Tourism Recovery Program – Many of the chambers of commerce and boards of trades are active in the tourism industries of their local communities. These additional supports will be critical in supporting a revival of tourism after the pandemic.
Support for alcohol producers and local distilleries – This should be a boost to the province's vineyards, cideries and small distillers who have been greatly impacted by the pandemic-induced stall to tourism.
Broadband investments – The pandemic has put the spotlight on the digital divide for people and businesses, particularly in remote and rural communities. Additional funding to connect all Ontarians (including businesses) to reliable broadband by 2025 is welcome news.
Regional Opportunities Tax Credit – Additional resources for this program will allow rural and remote communities to invest in projects that create local jobs and economic growth.
Property reassessment for municipalities – Pausing property-tax reassessments gives municipalities and businesses more capacity and time to adjust to the economic uncertainty and challenges resulting from the pandemic.
Expansion of the Ontario Together Fund – This fund has successfully leveraged Ontario's business community to address pandemic-related challenges and support relief efforts.
Access to vaccination appointments – The Ontario Chamber Network welcomes support to help seniors and people with disabilities get to their vaccination appointments. The faster the population is inoculated, the sooner we can focus on recovery.
Strategic Priorities and Infrastructure Fund – Renovations to local buildings and sports facilities will also be integral to local economic growth and recovery initiatives.
