Provincial Government Releases 2024 Budget
March 27, 2024NORTH BAY – Vic Fedeli, MPP for Nipissing announced that yesterday, Minister of Finance Peter Bethlenfalvy released the 2024 Budget: Building a Better Ontario. The 2024 Budget demonstrates how Ontario is continuing to deliver on its Plan to Build by investing in infrastructure to get more homes built faster, attracting better jobs with bigger paycheques, keeping costs down for families and businesses and retaining a path to balance.
“Our government continues to make investments to improve access to health care, build housing, and promote affordability,” said MPP Fedeli. “This budget takes a responsible approach to delivering key services and public infrastructure while not raising taxes and fees.”
The governments significant actions in the region include:
- Supporting small, Northern and rural colleges and Northern universities by providing $10 million in targeted support to eligible institutions that are financially vulnerable, while the government works with them on efficiency initiatives.
- Investing $50 million over three years to enhance and stabilize health care capacity within Northern and rural communities and investing $45 million over three years to enhance the Northern Health Travel Grant Program.
- Investing in healthcare, including approximately $94 million over three years to enhance the health and well-being of Indigenous and Northern communities with culturally responsive and safe care tailored to community needs.
- Investing $120 million in the Building Faster Fund for small, rural and Northern communities across Ontario that have not been assigned a housing target to support their unique needs and circumstances, following municipal consultations.
- Helping Indigenous workers in Northern Ontario train for rewarding careers in their communities by investing $7.3 million through the Skills Development Fund.
- Reinstating the Northlander train to support economic prosperity and tourism, while strengthening the connection between the North and the South of the province.
- Dedicating $1 billion to support critical legacy infrastructure such as all‐season roads, broadband connectivity and community supports for the Ring of Fire region.
- Investing $15 million over three years to enhance the Critical Minerals Innovation Fund, which supports innovation and research projects in Ontario’scriticalminerals sector.
- Extending the Forest Biomass Program to increase forest sector jobs and promote regional economic growth with $20 million in annual funding over the next three years.
- Continuing to help eligible large industrial operators better manage electricity costs by increasing the Northern Energy Advantage Program funding by an additional $86 million over three years, resulting in a total annual program amount of $167 million in 2024–25 and $206 million in 2025–26 and 2026–27.
For further information on the 2024 Budget: 2024 Ontario Budget | Building a Better Ontario