Government Relations

Government of Ontario to announce cuts

0 Comments 27 February 2012

 

LCBO warehouse

LCBO warehouse

Ontario Finance Minister Dwight Duncan has announced a number of steps the Government of Ontario will be taking in order to eliminate the province’s $16 billion deficit by 2017-18.

First, the Minister plans to sell and redevelop the LCBO warehouse and head office, located on the waterfront land in Toronto, which would generate over $200 million. A retail store will stay on the site while the headquarters will be moved to another location. The Minister indicated that other provincial assets are under review.

Minister Duncan also hinted that the Ontario Government might delay plans to lower corporate tax cuts to 10 per cent by 2013. The current rate is at 11.5 per cent. Another source of cuts will come from further privatizing services provided by Service Ontario and eliminating horse racing subsidies costing taxpayers $3.4 billion since first initiated in 1998.

To view the announcement, visit the Ontario Government website.

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Author

This post was written by who has written 49 posts on Ontario Real Estate Association Blog.

Matthew Thornton is OREA’s Manager of Government Relations. In that role he provides policy analysis, research, writing and strategic expertise to OREA’s Director of Government Relations and Government Relations Committee on legislation, policy and regulations that affect REALTORS® and the real estate industry. Matthew also manages all the government relations social media channels for the association. Prior to joining OREA, Matthew worked as a legislative intern at Queen’s Park in the Ontario Legislature Internship Programme. As an intern, Matthew worked for two backbench MPPs in government and on the opposition benches. Matthew is an active member of the Canadian Society of Association Executives and the Public Affairs Association of Canada. He holds a Master of Arts degree in Political Science from the University of Western Ontario and recently completed his Certified Association Executive designation.