Yesterday Ontario Finance Minister Dwight Duncan introduced the 2011 provincial budget. This year’s budget unfortunately features no news of significance for Ontario REALTORS® or property owners.
In general, the 2011 Ontario Budget commits to making very modest reductions in the provincial deficit with maintaining levels of program spending on health care and education.
Given that 2011 is an election year, the Budget is exceptionally light on new initiatives and programs. There are also no new taxes or tax increases included in the budget.
With respect to REALTORS® issues, the Budget does not commit to making the legislative changes that would implement Personal Real Estate Corporations or encourage additional brownfield redevelopment but we will continue to lobby on these two very important issues.
Finally, the Budget offers no new programs that benefit Ontario homeowners specifically. Let’s get together as members of the Ontario Real Estate Association and work towards lobbying for programs that support our quality of life initiatives….Get on board!! Campaign College is just weeks away!
Read a copy of OREA’s Budget analysis.
Read a copy of OREA’s 2011 Pre-Budget submission.