Speaker, I will elaborate in a ministerial statement shortly.

MPP Andrew moved first reading of the following bill:

Bill 147, An Act to provide for updates to training requirements with respect to Black, Indigenous, racialized, natural and textured hair styles in the film and television and live entertainment industries / Projet de loi 147, Loi prévoyant la mise à jour des exigences en matière de formation relativement aux types de cheveux des personnes noires, autochtones et racisées, et aux types de cheveux naturels et texturés dans l’industrie du film et de la télévision et l’industrie du spectacle vivant.

Applause.

It gives me great pleasure to rise today on behalf of the Premier and our government to deliver our 2023 fall economic statement, Building a Stronger Ontario Together.

J’ai l’immense plaisir de prendre la parole aujourd’hui, au nom du premier ministre et de notre gouvernement, afin de présenter notre exposé économique de l’automne 2023 : Bâtir un Ontario fort ensemble.

Ontario is growing rapidly.

Last year alone, 500,000 more people chose Ontario as home.

There are 4,400 more businesses operating in our province today than there were last year, representing over half the new businesses that opened in the entire country.

And these new businesses mean new jobs ... in fact, 170,000 net new jobs since January.

While this is good news for Ontario, we cannot take this growth for granted.

As I have said many times before, Ontario is not immune to the risks of an economic slowdown.

High inflation and the Bank of Canada’s rapid interest rate increases are weighing on Ontario’s outlook for the remainder of this year, and into next year.

Russia’s war on the Ukraine and the recent horrific terrorist attack against Israel means continued heightened geopolitical uncertainty.

With these economic and geopolitical challenges, there comes a choice: We can go back to a time when manufacturing jobs left the province in droves; when gridlock brought our communities and our economy to a standstill; when workers worked harder and harder but life became tougher and tougher. Or we could continue on our path, a path that involves creating better jobs and bigger paycheques, a path that is building infrastructure we need to serve a growing population that is fiscally responsible.

And that includes a path to balance the budget.

Mr. Speaker, our path and our road ahead is clear.

We must continue with our government’s responsible, targeted approach.

We must continue with our plan to build a strong Ontario.

Nous devons poursuivre notre plan pour bâtir un Ontario fort. Et nous devons le faire ensemble. And we must do it together.

Mr. Speaker, we are attracting new jobs and new investments.

We are building the critical infrastructure needed to support our growing communities.

We are training workers to fill the jobs needed in key sectors like health care and the skilled trades.

We are putting money back into the pockets of the people of Ontario, during a time of high interest rates and inflation.

And we are providing better public services as well as supporting our most vulnerable.

Mr. Speaker, due to a slowing economy impacting revenue and increasing our flexibility to respond to risks, our government is now projecting a $5.6-billion deficit in 2023-24.

In 2024-25, we are forecasting a deficit of $5.3 billion, followed by a balanced budget in 2025-26.

And as we deal with the uncertainty ahead, Mr. Speaker, our government will never hesitate to do what is necessary to support the people and businesses of Ontario.

Face à l’incertitude qui nous guette, monsieur le Président, notre gouvernement ne manquera pas de faire ce qu’il faut pour soutenir la population et les entreprises de l’Ontario.

Mr. Speaker, our government is building Ontario.

It starts in the north, where we are unlocking the incredible potential of critical minerals and finally building the roads to the Ring of Fire, in partnership with Indigenous communities.

Critical minerals are key to positioning Ontario as a global economic powerhouse, ready to seize the electric vehicle revolution and energy transition and be a serious player amidst geopolitical change.

That’s why I’m pleased to announce that we are proposing to enhance the Ontario Focused Flow-Through Share Tax Credit to encourage more critical mineral exploration.

Mr. Speaker, our story starts in the north, but it leads to the south, where we are connecting these critical minerals to our province’s leading electric vehicle manufacturing sector. It’s no secret that the previous government decimated manufacturing in Ontario. Jobs left the province in droves. Well, under this government and this Premier, manufacturing is back in Ontario and it’s stronger than ever.

Over the last three years, our government has attracted more than $26 billion in transformative auto and electric vehicle battery-related investments to Ontario.

From Algoma to Windsor—

Interjection.