Government Targeting Surpluses For Roads, Transit and Social Housing
TORONTO, March 12 /CNW/ -
The Ontario government is proposing legislation that would dedicate
additional surpluses to Ontario's communities.
The proposed bill, which would be called the Investing in Ontario Act,
would direct a portion of provincial surpluses to municipalities for
infrastructure needs, such as improving roads and bridges, expanding transit
and upgrading social housing.
Currently, the government is required to use all year-end surpluses to
help reduce provincial debt.
"The proposed Investing in Ontario Act would strike a balance by ensuring
that surpluses would go to both debt reduction and to government priorities,"
said <a href="http://www.fin.gov.on.ca/english/about/min.html">Ontario Finance Minister Dwight Duncan</a>. "Investing in municipal
infrastructure not only addresses the capital needs of our communities, but it
also creates more jobs in the short term and prosperity in the long run."
"This proposed legislation is another clear demonstration of our
government's commitment to treating municipalities as true partners in
building stronger Ontario communities," said <a href="http://www.mah.gov.on.ca/Page741.aspx">Municipal Affairs and Housing</a>
<a href="http://www.mah.gov.on.ca/Page741.aspx">Minister Jim Watson</a>.
"This is another significant step in the province's commitment to
partnering with municipalities to help ease the infrastructure challenges they
are facing," said <a href="http://www.amo.on.ca/AM/Template.cfm?Section=Home&TEMPLATE=/CM/HTMLDisplay.cfm&CONTENTID=149957">Doug Reycraft</a>, President of the <a href="http://www.amo.on.ca/AM/Template.cfm?Section=Home">Association of</a>
<a href="http://www.amo.on.ca/AM/Template.cfm?Section=Home">Municipalities of Ontario</a>.
- The government launched a $300-million <a
<a href="http://www.infrastructureontario.ca/en/miii/index.asp">Investment Initiative</a> last fall and recently announced it will invest
<a href="http://www.premier.gov.on.ca/news/Product.asp?ProductID=1975&Lang=EN">another $150 million in the program</a>.
- The 2007 Economic Outlook and Fiscal Review included an <a
<a href="http://www.fin.gov.on.ca/english/budget/fallstatement/2007/07fs-annex1.html#toc8">$1.4 billion to build strategic infrastructure</a> to encourage economic
activity and help municipalities.
Learn more about the <a href="http://www.mah.gov.on.ca/Page182.aspx">Provincial-Municipal Fiscal and Service Delivery</a>
<a href="http://www.mah.gov.on.ca/Page182.aspx">Review</a>, the government's commitment to working toward a sustainable,
See how Ontario is <a href="http://www.pir.gov.on.ca/english/infrastructure/index.html">helping to build infrastructure</a> across the province.
Learn more about <a href="http://www.mah.gov.on.ca/Page11.aspx">what's happening in Ontario's municipalities</a>.
Disponible en français
Get updated on the latest news releases by subscribing to the
<a href="http://www.fin.gov.on.ca/english/feedhelp.html">Ministry of Finance News Feed</a> or <a href="http://www.fin.gov.on.ca/english/alerts.html">Email Alerts</a>.
For further information:
For further information: Steve Erwin, Minister's Office, (416) 325-3645;
Scott Blodgett, Ministry of Finance, (416) 325-0324