The budget targets much of its new spending towards supply-side measures that help avoid fueling inflation and provides much-needed support for households most impacted by the higher costs of living. It also seeks to offset some of this spending through internal savings and tax hikes aimed at Canadians with higher incomes and banks. While we welcome such measures and applaud the government’s efforts to promote economic growth, it will be important to pursue fiscal restraint where possible and outline a clear plan for achieving a balanced budget to protect against an uncertain economic outlook.
Canada's Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, presented the 2023 Budget: A Made-In-Canada Plan.
The OCC has reviewed the budget and compiled a detailed summary of key highlights from the perspective of Ontario’s business community. Read our policy analysis.
As the indispensable partner of business, the OCC looks forward to continuing to engage with the federal government on behalf of its members to ensure regional and economic needs are met.