Fast Facts – 2020 Ontario Budget

Currently, Minister of Finance Rod Phillips is presenting the Ontario Government’s Budget in the Legislative Assembly.  This the first Budget plan since the start of the Pandemic. The Budget provides a three-pillar plan to continue the fight against COVID-19 and to rebuild the economy:

  1. PROTECT: $7.5 billion in new spending on healthcare to address growing needs, particularly the ongoing COVID-19 response.  This is in addition to the existing $7.7 billion in supports to date, and includes investing an additional $572 million in hospitals for costs incurred during the pandemic.
  2. SUPPORT: $2.4 billion in new supports to individuals and businesses.  This includes an additional $1.8 billion in funding for the Support for People and Jobs Fund over the next two years, 2021–22 and 2022–23, and $50 million to the Ontario Together Fund.
  3. RECOVER: $4.8 billion in funding to build the foundation for a strong recovery. This includes an investment of $680 million over the next four years in broadband infrastructure and an additional $57 million for the Digital Main Street program to help small businesses enhance their online presence.
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