Latest news with #Bethlenfalvy
Yahoo
5 days ago
- Business
- Yahoo
Ford government reacts to latest U.S. tariff twist, vowing to protect Ontario workers
Ontario government officials say the province remains committed to protecting workers and the economy, after a U.S. court quashed some of President Donald Trump's tariffs on Wednesday. On Wednesday, the U.S. Court of International Trade struck down Trump's 10 per cent tariff on most countries and his 25 per cent tariffs on numerous Canadian and Mexican goods, leaving the tariffs on steel and aluminum in place. "The signals from the courts, you couldn't categorize them as good news or bad news," said Vic Fedeli, the minister of economic development, job creation and trade, at a news conference on Thursday. Fedeli says the court's decision is simply the most recent development in the daily "twists and turns" of tariffs, and that the provincial government will continue its efforts to keep Ontario workers in high-value jobs. Fedeli spoke alongside Finance Minister Peter Bethlenfalvy about the government's latest efforts to boost Ontario's economy and protect its workers. Bethlenfalvy also said the province's number one goal with regard to the tariffs is keeping workers safe. "We want no tariffs. We want all workers [protected]. We are protecting our economy so we can keep people working, keep them in business, and support business and support families," he said. Province says mining project needed amid tariff threat Bethlenfalvy says that's why Ontario government is spending $500 million to create a new critical minerals processing fund. The fund will support projects that speed up the province's critical minerals processing capacity and made-in-Ontario supply chain, according to a Thursday news release. Minerals mined in Ontario will be processed in the province by Ontario workers, the release says. "We're investing to unlock and process these resources right here in Ontario, securing good-paying jobs and building resilient communities for the future," Bethlenfalvy said in the same news release. The $500 million investment comes as Ford's government is pushing ahead with the Protect Ontario by Unleashing our Economy Act, or Bill 5, which it says will speed up the approval of mining projects in Ontario. However, critics say the province is using the threat of tariffs as an excuse to loosen environmental regulations on the industry, as the legislation includes major changes to the province's endangered species and environmental protection laws. Jamie Kneen, national program co-lead for Mining Watch Canada, a non-profit advocacy group, previously told CBC Toronto it's undemocratic for the government to give itself the power to exclude mines in special economic zones from environmental regulations. He questions whether tariffs are a legitimate reason to reduce regulatory oversight of the mining sector. "They're just using this as a pretext for doing what they wanted to do already and hoping that people won't notice that the two are not really connected," Kneen said. Bethlenfalvy says both the federal and provincial governments are "very unified" on combatting tariffs and promoting economic growth for Canada and Ontario. Fedeli said it's "discouraging" to hear Trump say the U.S. doesn't need Canada, when over half of the nickel that the U.S. uses for its aerospace and defence sectors comes from Ontario. The province will continue mining and processing critical minerals, Fedeli said, sending the U.S. a "powerful signal." "Despite the rhetoric that comes from the U.S., we are going to continue being a world power in these critical minerals," he said.
Yahoo
20-05-2025
- Business
- Yahoo
Why Ontario's 1.5M new homes target looks increasingly out of reach
The new Ontario budget foresees a slow pace for housing construction over the next three years, making it increasingly unlikely that Premier Doug Ford's government will achieve its target of 1.5 million new homes by 2031. The budget forecasts 71,800 housing starts in 2025, followed by 74,800 next year and 82,500 in 2027. There have been 260,000 actual housing starts in the three years since the target was set. So if you add in the projections for 2025 and 2026, the province would only be about one-quarter of the way toward its goal at the end of next year, the halfway point of the target timeline. To put it another way: construction in the final five years would need to average about 218,000 homes annually, more than double the pace of the first five years. "The government should acknowledge that it's clearly not going to make that target," said Eric Lombardi, president of More Neighbours Toronto, a volunteer-run housing advocacy organization. Lombardi describes the budget's measures on housing as ineffective and says that suggests the Ford government "has given up on its own housing goals and has no interest in really achieving its prior promises on this file." The biggest new measure related to housing in the 2025 budget involves adding $400 million to existing programs that fund municipal infrastructure for housing, such as water mains. There's also a commitment of $50 million over five years to boost the province's capacity in modular housing construction. The budget includes no changes to the centrepiece of the government's housing plan, what's called the Building Faster Fund. Announced in 2023, it promised to provide $1.2 billion over a three-year period to municipalities that achieve annual targets for new home construction starts. The province distributed only $280 million from the fund in 2024, its first year, after more than half of Ontario's municipalities failed to hit the housing start targets in 2023. The government hasn't updated its housing start tracker since October 2024. As of that point, nine months through the year, only 11 of 50 municipalities had reached their annual benchmark. CBC News asked a spokesperson for Housing Minister Rob Flack to explain why the tracker does not show the final figures for 2024, and when the numbers will be made public, but did not receive a response. On budget day, Finance Minister Peter Bethlenfalvy said the government remains committed to hitting the 1.5 million new homes target. "We're not going to relent on trying to achieve that goal," Bethlenfalvy said at a news conference. Housing slump predates Trump tariffs Bethlenfalvy said tariffs deserve a lot of the blame for the lowered projections for housing starts in 2025 and 2026, which are down more than 20 per cent from the forecasts in last year's budget. "Let's be clear, tariffs have impacted housing starts right around the world," he said. Ontario's housing construction slump, however, predates U.S. President Donald Trump's return to the White House and his imposition of tariffs. Last year's budget forecast 87,900 housing starts across the province in 2024. The actual number for 2024 (reported in this year's budget) was 74,600. The Ford government's own figures toward its target of 1.5 million new homes are slightly higher than the housing start numbers reported in the budget, because the government also counts a new long-term care bed as a new home. Bethlenfalvy says he believes federal money for housing will flow more easily and with fewer conditions under Prime Minister Mark Carney than it did before. "I'm optimistic that the federal government will step up to work in partnership with us and I can guarantee you that will lead to more housing being built," he said. The Ontario Real Estate Association praised the government for what it called "pro-housing measures" in the budget. "Now is the time to keep their foot on the gas and continue to support policies to bring affordability back for Ontarians and their families," the association's president, Cathy Polan, said in a statement. Among the opposition on budget day, Green Party Leader Mike Schreiner went after the government the hardest over housing. "This budget utterly fails to even attempt to address the housing affordability crisis," Schreiner told a news conference.
National Observer
16-05-2025
- Business
- National Observer
Ontario budget 2025: Experts and opposition say it falls short where it matters most
The Ford government's $230-billion budget, tabled Thursday with a record $14.6-billion deficit, is drawing sharp criticism from economists, environmental advocates and opposition leaders. They argue the plan fails to address Ontarians' most pressing concerns — affordability, climate inaction, economic resilience and growing economic uncertainty driven by US tariffs. Much of the budget is focused on responding to US President Donald Trump's tariffs, particularly in the manufacturing and auto sectors — a cornerstone of Ontario's economy that supports tens of thousands of jobs and accounts for $36 billion of the province's $220-billion export market. The budget paints a grim economic picture: job-growth projections for 2025 have been halved, from 130,000 to just 73,000. In 2026, Ontario expects to add only 33,000 new jobs. The unemployment rate is forecast to average 7.1 per cent over the next three years. Ontario Finance Minister Peter Bethlenfalvy, while delivering the budget at the Legislature, called it a 'foundation for Ontario's economic transformation' and warned that Canada is facing 'one of the single greatest economic challenges in modern history.' 'Tariffs threaten to slow down what we've achieved to date in our mission to build our economy,' Bethlenfalvy said. 'We must respond with strength, prudence and unity to protect our industries, our jobs — and even our national sovereignty.' Despite the challenges, Bethlenfalvy said he believes Ontario can become less reliant on the US and emerge as a global leader by leveraging its clean energy, natural resources and skilled workforce. Spending highlights and economic risks Among key items in the budget: $5 billion for a 'Protecting Ontario' account to help businesses impacted by tariffs, a $1.3-billion boost to the manufacturing investment tax credit, and a $500-million fund to grow capacity for critical minerals refining. Other investments include $750 million for science, technology, engineering, and mathematics (STEM) education, a billion-dollar expansion of skilled trades training, and over $200 billion in infrastructure spending over 10 years. Critics say the Ford government 2025 budget fails to address Ontarians' most pressing concerns — affordability, climate inaction, economic resilience and growing economic uncertainty driven by US tariffs. While the budget is packed with stimulus measures and support for the industrial and resource sectors, Mahmood Nanji, a policy fellow at Western University's Ivey Business School, says it's unclear how much relief it will actually bring because it lacks details. On the $5-billion 'Protecting Ontario' fund, Nanji said the shortage of specifics is troubling and could lead to mismanagement if the province is forced to deploy it quickly during a crisis. 'This budget doesn't offer the kind of reassurance businesses and workers are looking for,' Nanji said. 'There's no strong message that the government truly has their backs.' The Ford government appears to be counting on the federal government to step in if the economy worsens — an assumption Nanji called risky, especially given ongoing trade tensions. The province's expectation of federal support was clear in the lead-up to the budget, when Ford sent Ottawa a wishlist of his 'nation-building' infrastructure projects. Bethlenfalvy also reinforced this in his budget speech, repeatedly calling on the federal government to backstop Ontario's economic plans. Several of the measures in the budget are intended to solve transportation problems, which the government identified as standing in the way of economic growth. While Nanji welcomed long-term infrastructure investments, he criticized the continued focus on the Highway 401 tunnel, calling it a political project rather than a strategic one. Nanji argued that the gas tax cut and Highway 407 toll removal are poorly targeted and largely benefit higher-income Ontarians, while doing little to help those most in need. Environmental advocates: budget ignores climate crisis and clean energy investment On the environment, Mike Marcolongo, associate director of Ontario programs at Environmental Defence was more blunt. 'It's been called a plan to protect Ontario, but it's not clear where the government's plan is when it comes to protecting clean water, healthy communities and natural ecosystems.' Marcolongo also took aim at the government's continued push to remove bike lanes in major Toronto corridors as part of its budget plans. While advocates are in court trying to stop the removal of bike lanes on University Avenue, Yonge Street, and Bloor, this budget adds Avenue Road and Queen's Park Crescent to the list of lanes slated for removal. 'For a government that claims to look after the 'little guy,' the continued attack on bicycles by budgeting more bike lane removals reveals a lack of interest in supporting the most affordable and environmental choice for short commutes,' Marcolongo said. 'Instead of attacking cyclists and the small businesses that rely on them in Toronto, the Ontario government should focus on real, province-wide congestion solutions.' When it comes to clean energy, Alienor Rougeot, senior program manager for climate and energy at Environmental Defence, said the government is sending mixed messages. While the budget claims to support affordable energy, she says it largely sidelines the most cost-effective solutions — like wind, solar and battery storage. Rougeot also pointed to Bill 17, which she said undermines local energy efficiency rules, leaving Ontarians with higher energy bills and no clear path to reducing carbon emissions. Opposition slams budget as out of touch Ontario NDP Leader Marit Stiles called it 'a band-aid budget' that delivers 'less relief, and a missed opportunity to strengthen Ontario.' 'Instead of choosing a future where workers and their families can get ahead, the government missed the mark with a budget full of cuts and no new investments in the services that people rely on,' said Stiles in a statement. Green Party Leader Mike Schreiner said the budget 'ignores the fact that people are going to be hurt by the trade war,' and accused the government of prioritizing sprawl-inducing highways over housing, health care and clean energy. Ontario Liberal Leader Bonnie Crombie said the Ford government 'chose to repaint the walls while the roof is caving in.' 'It's infuriating to watch taxpayer money funneled to insider friends, lobbyists and donors while Ontarians are told to settle for less,'Crombie said in a statement. 'This isn't fiscal responsibility. This is political favouritism.' But Bethlenfalvy, in delivering his budget, called for unity across partisan lines. 'We cannot do it alone,' he said. 'It's time to put aside our party stripes, set aside our differences, and work together — not just at the national level, but here at home in Ontario as well.'
Toronto Star
16-05-2025
- Business
- Toronto Star
Doug Ford's government vows to ‘protect Ontario' from Donald Trump's tariffs with record $232.5B budget
Woe Canada, Ontario claims to stand on guard for thee. With the economy battered by U.S. President Donald Trump's trade war and unemployment rising, Premier Doug Ford's government has tabled a record $232.5-billion provincial budget to 'protect Ontario' and promote national unity. 'When all of Canada wins, Ontario wins,' Finance Minister Peter Bethlenfalvy said Thursday in a boosterish speech that noted 'it is amazing to witness the burst of patriotism across our province and our great country' in the face of Trump's tariffs. Wary of smouldering secessionist sentiment in Alberta, Bethlenfalvy stressed 'all levels of government need to work together to tackle the most pressing issues facing Ontario and Canada today … and deliver on nation-building projects such as reactors, seaports, railroads, pipelines and refineries.' ARTICLE CONTINUES BELOW That means encouraging Prime Minister Mark Carney's new Liberal government to 'clear the maze of bureaucracy and red tape, barriers like Ottawa's Bill C-69,' to allow energy infrastructure to be built more quickly. With Trump's tariffs — real and threatened — triggering economic uncertainty, the recently re-elected Progressive Conservative government is launching a new $5-billion 'Protecting Ontario Account' to give immediate emergency cash supports to businesses affected by the slowdown. 'Tariffs have created an economic challenge across Ontario — and it is our communities who are hurting the most,' the treasurer said in a budget address that mentioned 'Canada' 33 times and 'Ontario' 70 times, but, unlike the April 15 throne speech, did not cite Trump by name. Indeed, unemployment in the province now sits at 7.8 per cent — above the national rate of 6.9 per cent — and a full percentage point higher than the 6.8 per cent this time last year. In 2023, it was five per cent. To tackle that, Bethlenfalvy is earmarking $20 million for new training and support centres 'providing immediate transition supports for laid-off workers, including those impacted by U.S. tariffs,' over and above the $2.5 billion promised for skills development and retraining programs over three years. With growth expected to sputter to just 0.8 per cent this year, the Tories are giving the economy a cash infusion with borrowed money, adding $5 billion to the Building Ontario Fund for affordable housing, long-term-care homes and energy projects, and tripling to $3 billion a fund to help Indigenous communities build infrastructure. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Touting a slew of initiatives to promote consumption of domestic goods from cars to cannabis, Bethlenfalvy decreed that the Friday before Canada Day will hitherto be known as 'Buy Ontarian, Buy Canadian' day to promote local products. It will be 'held annually on the last Friday in June to help consumers support local businesses and workers through programs such as Ontario Made, Ontario Wood, Vintners Quality Alliance (VQA) for wine, and Foodland Ontario.' That dovetails with the push from Ford and Carney to eliminate interprovincial trade barriers by July 1, which the premier and prime minister maintain could add $200 billion to the Canadian economy. Along with measures to boost sales of red wine, there was a lot of red ink in the budget, the first to be tabled since Ford's three-term Tories were re-elected Feb. 27. Last year's projected $9.8-billion deficit turned out to be a $6-billion shortfall. But the $4.6-billion deficit previously forecast for 2025-26 has ballooned to an anticipated $14.6 billion — a $10-billion increase due to spending on tariff-related measures. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW A month ago, Ford announced he would temporarily defer some provincial taxes through to Oct. 1, freeing up about $9 billion in cashflow for 80,000 tariff-hit employers to keep workers on the job. He also gave businesses an additional $2 billion in rebates through the Workplace Safety and Insurance Board (WSIB). Bethlenfalvy said the deficit would be $7.8 billion next year before the government goes back into the black with a $200 million surplus in 2027-28. 'We are seeing our debt-to-GDP ratio — which is an excellent way to measure an economy's fiscal health — near the lowest levels in almost 15 years, and now we can use that balance sheet to protect workers and businesses,' he told the legislature. Ontario's debt has jumped to a projected $489.8 billion this fiscal year — up $166.8 billion since Ford's Tories took office thanks in part to the COVID-19 pandemic. That's a staggering 51.6 per cent increase from the $323-billion debt inherited from the previous Liberals of premier Kathleen Wynne seven years ago. Queen's Park will spend $16.2 billion on interest payments in 2025-26 — greater than the budgets of every single ministry except Health ($81.9 billion), Education ($42.7 billion) and Children, Community and Social Services ($20.4 billion) — climbing to $17 billion next year. NDP Leader Marit Stiles said the Tories are spending more while Ontarians are getting less for their tax dollars. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 'This is a Band-Aid budget, a missed opportunity to strengthen Ontario,' said Stiles. Liberal Leader Bonnie Crombie said her party supports 'providing stimulus to ride through this critical time.' 'But in the long term, what's in it for the people who are still waiting 20 hours in an emergency room for care?' she said. Green Leader Mike Schreiner said the fiscal plan 'utterly fails' on improving housing affordability. 'We will not tariff-proof Ontario if people can't afford to live in this province. We are not helping the people who need the help, the most low- and middle-income families,' said Schreiner. As first disclosed by the Star on Wednesday, Bethlenfalvy's 232-page spending plan says that beyond the bike lanes the province wants removed from Bloor Street, Yonge Street and University Avenue, bikeways will be taken off of Queen's Park Crescent and Avenue Road in order to have more car lanes. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 'Ontario is reconfiguring some of Toronto's most congested streets,' the budget stated in a section that also included Ford's controversial scheme to tunnel under Highway 401 from Mississauga to Scarborough in order reduce gridlock. The spending blueprint reiterated the Tories' commitment to expanding TTC and GO Transit services and boasts that 'major construction … is now complete' for the Eglinton Crosstown and the Finch West LRTs, but did not specify opening dates for those delayed projects. Construction began on the 19-kilometre Crosstown LRT in 2012 under former Liberal premier Dalton McGuinty. The Star has reported it could finally open in September. Finally, buried on the last page of the budget, there will be a new law that will allow former cabinet ministers of all political stripes to call themselves 'Honorary Members of the Executive Council.' That means they can use the honorific 'the honourable,' bringing Ontario in line with titles enjoyed by ex-ministers in Ottawa and other provinces. With files from Rob Ferguson Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. 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Hamilton Spectator
16-05-2025
- Business
- Hamilton Spectator
Doug Ford's government vows to ‘protect Ontario' from Donald Trump's tariffs with record $232.5B budget
Woe Canada, Ontario claims to stand on guard for thee. With the economy battered by U.S. President Donald Trump's trade war and unemployment rising, Premier Doug Ford's government has tabled a record $232.5-billion provincial budget to 'protect Ontario' and promote national unity. 'When all of Canada wins, Ontario wins,' Finance Minister Peter Bethlenfalvy said Thursday in a boosterish speech that noted 'it is amazing to witness the burst of patriotism across our province and our great country' in the face of Trump's tariffs. Wary of smouldering secessionist sentiment in Alberta, Bethlenfalvy stressed 'all levels of government need to work together to tackle the most pressing issues facing Ontario and Canada today … and deliver on nation-building projects such as reactors, seaports, railroads, pipelines and refineries.' That means encouraging Prime Minister Mark Carney's new Liberal government to 'clear the maze of bureaucracy and red tape, barriers like Ottawa's Bill C-69,' to allow energy infrastructure to be built more quickly. With Trump's tariffs — real and threatened — triggering economic uncertainty, the recently re-elected Progressive Conservative government is launching a new $5-billion 'Protecting Ontario Account' to give immediate emergency cash supports to businesses affected by the slowdown. 'Tariffs have created an economic challenge across Ontario — and it is our communities who are hurting the most,' the treasurer said in a budget address that mentioned 'Canada' 33 times and 'Ontario' 70 times, but, unlike the April 15 throne speech , did not cite Trump by name. Indeed, unemployment in the province now sits at 7.8 per cent — above the national rate of 6.9 per cent — and a full percentage point higher than the 6.8 per cent this time last year. In 2023, it was five per cent. To tackle that, Bethlenfalvy is earmarking $20 million for new training and support centres 'providing immediate transition supports for laid-off workers, including those impacted by U.S. tariffs,' over and above the $2.5 billion promised for skills development and retraining programs over three years. With growth expected to sputter to just 0.8 per cent this year, the Tories are giving the economy a cash infusion with borrowed money, adding $5 billion to the Building Ontario Fund for affordable housing, long-term-care homes and energy projects, and tripling to $3 billion a fund to help Indigenous communities build infrastructure. Touting a slew of initiatives to promote consumption of domestic goods from cars to cannabis, Bethlenfalvy decreed that the Friday before Canada Day will hitherto be known as 'Buy Ontarian, Buy Canadian' day to promote local products. It will be 'held annually on the last Friday in June to help consumers support local businesses and workers through programs such as Ontario Made, Ontario Wood, Vintners Quality Alliance (VQA) for wine, and Foodland Ontario.' That dovetails with the push from Ford and Carney to eliminate interprovincial trade barriers by July 1, which the premier and prime minister maintain could add $200 billion to the Canadian economy. Along with measures to boost sales of red wine, there was a lot of red ink in the budget, the first to be tabled since Ford's three-term Tories were re-elected Feb. 27. Last year's projected $9.8-billion deficit turned out to be a $6-billion shortfall. But the $4.6-billion deficit previously forecast for 2025-26 has ballooned to an anticipated $14.6 billion — a $10-billion increase due to spending on tariff-related measures. A month ago, Ford announced he would temporarily defer some provincial taxes through to Oct. 1, freeing up about $9 billion in cashflow for 80,000 tariff-hit employers to keep workers on the job. He also gave businesses an additional $2 billion in rebates through the Workplace Safety and Insurance Board (WSIB). Bethlenfalvy said the deficit would be $7.8 billion next year before the government goes back into the black with a $200 million surplus in 2027-28. 'We are seeing our debt-to-GDP ratio — which is an excellent way to measure an economy's fiscal health — near the lowest levels in almost 15 years, and now we can use that balance sheet to protect workers and businesses,' he told the legislature. Ontario's debt has jumped to a projected $489.8 billion this fiscal year — up $166.8 billion since Ford's Tories took office thanks in part to the COVID-19 pandemic. That's a staggering 51.6 per cent increase from the $323-billion debt inherited from the previous Liberals of premier Kathleen Wynne seven years ago. Queen's Park will spend $16.2 billion on interest payments in 2025-26 — greater than the budgets of every single ministry except Health ($81.9 billion), Education ($42.7 billion) and Children, Community and Social Services ($20.4 billion) — climbing to $17 billion next year. NDP Leader Marit Stiles said the Tories are spending more while Ontarians are getting less for their tax dollars. 'This is a Band-Aid budget, a missed opportunity to strengthen Ontario,' said Stiles. Liberal Leader Bonnie Crombie said her party supports 'providing stimulus to ride through this critical time.' 'But in the long term, what's in it for the people who are still waiting 20 hours in an emergency room for care?' she said. Green Leader Mike Schreiner said the fiscal plan 'utterly fails' on improving housing affordability. 'We will not tariff-proof Ontario if people can't afford to live in this province. We are not helping the people who need the help, the most low- and middle-income families,' said Schreiner. As first disclosed by the Star on Wednesday, Bethlenfalvy's 232-page spending plan says that beyond the bike lanes the province wants removed from Bloor Street, Yonge Street and University Avenue, bikeways will be taken off of Queen's Park Crescent and Avenue Road in order to have more car lanes. 'Ontario is reconfiguring some of Toronto's most congested streets,' the budget stated in a section that also included Ford's controversial scheme to tunnel under Highway 401 from Mississauga to Scarborough in order reduce gridlock. The spending blueprint reiterated the Tories' commitment to expanding TTC and GO Transit services and boasts that 'major construction … is now complete' for the Eglinton Crosstown and the Finch West LRTs, but did not specify opening dates for those delayed projects. Construction began on the 19-kilometre Crosstown LRT in 2012 under former Liberal premier Dalton McGuinty. The Star has reported it could finally open in September . Finally, buried on the last page of the budget, there will be a new law that will allow former cabinet ministers of all political stripes to call themselves 'Honorary Members of the Executive Council.' That means they can use the honorific 'the honourable,' bringing Ontario in line with titles enjoyed by ex-ministers in Ottawa and other provinces. With files from Rob Ferguson
