Speaker, thank you for the opportunity to address the House today to discuss the 2023 Ontario budget.

Building a Strong Ontario: The proposed budget reflects a focused and responsible approach to building a strong Ontario that supports families, workers and businesses, while ensuring a strong fiscal foundation for future generations. Despite recent economic challenges and geopolitical instability, Ontario’s economy has demonstrated remarkable resilience. Our government’s budget provides the right strategy to navigate short-term uncertainties while creating conditions for long-term economic growth.

Ontario’s economy has continued to grow despite ongoing uncertainty. As of the third quarter of 2022, real gross domestic product exceeded the COVID-19 pre-pandemic level by 4%. In 2022, Ontario created 338,300 jobs, following a gain of 367,400 net jobs in 2021. These were the two strongest years of job growth on record. The provincial unemployment rate is currently near historic lows.

Our government has taken significant measures to boost growth by reducing costs, expediting key infrastructure projects, and cutting through red tape. Our efforts have attracted new investment to key industries and have generated additional high-quality, well-paying jobs. Above all, our government is committed to taking a responsible approach to budgeting and financial management, with plans to balance the budget and to post a surplus in the fiscal year 2024-25. That is an impressive three years earlier than the 2022 budget forecast.

Access to this region’s critical minerals will create multi-generational opportunities for northern and First Nations communities. Building this corridor to prosperity can leverage an array of health, economic and social benefits. Dependable all-season road access is a prerequisite to unlocking the region’s potential. This access will enable effective supply chain connections between industries, resources, workers and communities in both northern Ontario and manufacturing in southern Ontario.

Through investments and community support, our government is helping to build a robust critical minerals sector in the province, with a commitment of nearly $1 billion for investment in critical legacy infrastructure, and providing services to help bring prosperity to First Nations communities. Our government’s strategy will also help secure Ontario’s position as a reliable global supplier and processor of responsibly sourced critical minerals. Furthermore, these northern critical mineral resources have a critical connection to Ontario’s world-class electric vehicle sector in the south.

Speaker, I’m proud to share with you the positive developments of Ontario’s electric vehicle sector as we strive towards building the cars of the future. Our government is dedicated to promoting Ontario as a global leader on the EV supply chain. We are thrilled to see the positive results of our clean-tech efforts and electric vehicle initiatives. Over the past two and a half years, our province has attracted more than $16 billion in investments from global automakers, suppliers of EV batteries and battery materials, even before the most recent announcement for a subsidiary Volkswagen AG to establish an EV battery manufacturing facility in St. Thomas, Ontario.

The recent announcement by Volkswagen AG to establish an EV battery manufacturing facility in Ontario is a historic moment. It is a huge vote of confidence that will further strengthen our made-in-Ontario electric vehicle supply chain, creating additional good-paying jobs for workers in St. Thomas and across the province. It will be the first overseas “gigafactory” for battery cell manufacturing for the German automaker, with production scheduled to begin in 2027.

In further support of our EV sector and homegrown automobile innovation, we are proposing a new Ontario Made Manufacturing Investment Tax Credit. This initiative will help local manufacturing companies to invest and expand so the products of the future are manufactured right here at home.

Speaker, one of the most common concerns I hear from my constituents is about the high cost of goods and services. We understand the issue of financial difficulties, especially for our low-income seniors. Our government is committed to supporting them through this challenging time.

In this period of high prices, our government has temporarily doubled the Guaranteed Annual Income System, GAINS, payments for 2023 to help approximately 200,000 eligible low-income seniors.

Under the 2023 budget, we are also proposing changes to expand eligibility for the GAINS program. Starting in July 2024, we would see approximately 100,000 additional seniors be eligible for the program, for a 50% increase in recipients. The proposed amendments to the Ontario Guaranteed Annual Income Act would allow more seniors to be eligible for the program and to keep more of their benefits. Our government is proposing to lower the rate at which the benefit is reduced in relation to annual private income and, at the same time, to continue to put more money in the pockets of eligible seniors, and is proposing to adjust the benefit annually to inflation.

As part of its plan to help keep costs down for Ontario families and businesses, our government is also extending the current gas tax and fuel tax rate cuts for an additional year, keeping the rates at 9 cents per litre until December 31, 2023.

Because of our government’s thoughtful and transparent planning, we will continue to build an Ontario the people of this province can be proud of, not only today but into the future.

In conclusion, I urge all members of the House to vote in favour of the 2023 budget and join me in looking forward to a stronger Ontario.