Latest news with #non-Canadian-controlled
Cision Canada
16-05-2025
- Business
- Cision Canada
CME STATEMENT ON SUPPORTS FOR ONTARIO MANUFACTURERS IN 2025 BUDGET
TORONTO, May 16, 2025 /CNW/ - Canadian Manufacturers & Exporters (CME) applauds the Government of Ontario for taking decisive action in its 2025 budget to support manufacturers as they face historic challenges created by U.S. tariffs. The province's bold response - through expanded financial support and strategic investment - recognizes the critical role manufacturing plays in Ontario's economy and its future. A key pre-budget ask from CME, the enhancement of the Ontario Made Manufacturing Investment Tax Credit – which raises the credit rate from 10% to 15% and expands eligibility to include non-Canadian-controlled private corporations – along with the introduction of the Ontario Together Trade Fund, represent a timely and targeted approach to help manufacturers invest. "These flexible incentives and grants will help businesses buy crucial equipment and tools when they need it most, supporting their pivot to new opportunities," said Dennis Darby, President and CEO of CME. CME also welcomes the creation of the Trade Impacted Communities Program, which will equip ecosystem partners as they seek to create supportive business conditions and safeguard the manufacturing jobs Ontarians rely on. As highlighted in CME's latest report, Keep Calm and Keep Training, workforce development remains an urgent priority for the manufacturing sector. CME commends the province for its continued commitment to building a stronger workforce, including a $1 billion boost to the Skills Development Fund for industry, and $750 million in funding for STEM programs at post-secondary institutions. "These historic commitments mark a turning point. By working together, we can build on Ontario's strong industrial foundation to usher in an Ontario Made economic revolution - one that champions homegrown innovation, drives global competitiveness, and secures long-term prosperity for all Ontarians," concluded Darby. ABOUT CANADIAN MANUFACTURERS & EXPORTERS (CME) Since 1871, CME has made a difference for Canada's manufacturing and exporting communities. Fighting for their future. Saving them money. Helping manufacturers grow. The association directly represents manufacturers large and small, across all subsectors, from automotive, aerospace and food to the materials, technology and energy that support them. More than 85 percent of CME's members are small and medium-sized enterprises. CME's membership network accounts for an estimated 82 percent of total manufacturing production and 90 percent of Canada's exports.
Hamilton Spectator
15-05-2025
- Business
- Hamilton Spectator
Highlights of Ontario's 2025 budget: U.S. tariff measures, boost for alcohol market
TORONTO - The Ontario government tabled a budget Thursday that focused on investments it says will protect Ontario workers in the face of U.S. President Donald Trump's tariffs. The province is projecting a deficit of $14.6 billion this year, up from a forecast of $4.6 billion in last year's budget, and a deficit of $7.8 billion next year. Finance Minister Peter Bethlenfalvy said the budget seeks to help Ontario businesses and workers 'weather the storm' to make the province's economy resilient and competitive. Here are the highlights: U.S. TARIFFS AND ONTARIO WORKERS The budget is pledging to create a $5-billion fund to provide immediate relief to support sectors of the economy facing tariff-related disruptions. The budget describes this fund as an 'emergency backstop' that will provide immediate relief for Ontario businesses that have exhausted available funding. It also pledges to expand the Ontario Made Manufacturing Investment Tax Credit rate from 10 per cent to 15 per cent. It can be used for qualifying investments in buildings, machinery and equipment for use in manufacturing or processing. The proposed changes would also expand eligibility for the non-refundable tax credit to non-Canadian-controlled private corporations and publicly traded corporations making eligible investments in Ontario. The budget says these changes would help businesses lower their costs by providing an additional $1.3 billion in support over the next three years. The budget also outlines a $50-million investment over three years to focus on expanding interprovincial trade. It also earmarks $500 million in funding to support critical mineral processing. The budget is also pledging a new program that would provide up to $40 million in grants for communities impacted by trade disruptions. The government also plans to invest an additional $1 billion over the next three years to train skilled workers. HEALTH CARE The budget says the government will invest more than $235 million this year to establish and expand up to 80 more primary care teams, which it says will connect 300,000 more people to primary care. It also says it will invest up to $280 million over two years to support the expansion of integrated health service centres that will help more Ontarians access MRI and CT scans, among other services. The budget pledges a new refundable tax credit to support 25 per cent of fertility treatment expenses, for a maximum credit of $5,000 per year. It also plans to increase the province's investment to the Ontario Autism Program, bringing this year's total funding to $779 million. EDUCATION The budget is promising close to $2 billion for the upcoming school year to repair and maintain schools. Last December, the province's fiscal watchdog found that the province has a $12.7-billion school repair and construction backlog, and it would cost $31.4 billion over 10 years to clear it. The budget also says the government will invest $55.8 million over two years to train 2,600 new teachers by 2027. It's also pledging $75 million over three years to create up to 2,600 new seats in construction-related post-secondary programs, and $750 million over five years to fund up to 20,500 seats in science, technology, engineering and math programs at colleges and universities. It further outlines $10 million over three years to create new scholarship opportunities for First Nations post-secondary students interested in pursuing careers in resource development. It's also earmarking an additional $207 million over three years in funding for research at Ontario universities. ALCOHOL AND CANNABIS The budget outlines an increase to the Liquor Control Board of Ontario's wholesale discount rate from 10 per cent to 15 per cent for bars, restaurants, convenience stores and LCBO convenience outlets until the end of this year. The budget estimates the measure will save Ontario businesses about $56 million. The budget also proposes an Ontario Grape Support Program to provide up to $35 million in annual support for eligible wineries until 2029-30, with total program funding of $175 million. It says it anticipates the move will double the percentage of Ontario grapes in blended wine. It further outlines plans to expand its investment in the VQA Wine Support Program to $84 million annually, with total program funding of $420 million over the next five years. The government also plans to introduce changes for retail cannabis stores to 'improve their outside visibility,' by allowing them to take down their window coverings. SECURITY AND PUBLIC SAFETY The budget proposes $1 billion in funding to expand and renovate the Ontario Police College in Aylmer, Ont., and a new Ontario Provincial Police academy in Orillia, Ont. It also proposes $8.8 million to support a one-time additional intake of up to 300 recruits in the basic constable training program. It's proposing an additional $113 million over the next three years to combat illegal cross-border activity through measures such as air patrols and firearm seizures. It earmarks $57 million for two new helicopters for police in Niagara Region and Windsor. Last year, the government announced $134 million for five helicopters for the Greater Toronto Area and Ottawa. The budget also earmarks $6 million to help tackle auto theft in the province, and $12.8 million this year to help faith-based and cultural organizations implement safety measures such as hiring security staff and building repairs. This report by The Canadian Press was first published May 15, 2025.
Yahoo
15-05-2025
- Business
- Yahoo
Highlights of Ontario's 2025 budget: U.S. tariff measures, boost for alcohol market
TORONTO — The Ontario government tabled a budget Thursday that focused on investments it says will protect Ontario workers in the face of U.S. President Donald Trump's tariffs. The province is projecting a deficit of $14.6 billion this year, up from a forecast of $4.6 billion in last year's budget, and a deficit of $7.8 billion next year. Finance Minister Peter Bethlenfalvy said the budget seeks to help Ontario businesses and workers "weather the storm" to make the province's economy resilient and competitive. Here are the highlights: U.S. TARIFFS AND ONTARIO WORKERS The budget is pledging to create a $5-billion fund to provide immediate relief to support sectors of the economy facing tariff-related disruptions. The budget describes this fund as an "emergency backstop" that will provide immediate relief for Ontario businesses that have exhausted available funding. It also pledges to expand the Ontario Made Manufacturing Investment Tax Credit rate from 10 per cent to 15 per cent. It can be used for qualifying investments in buildings, machinery and equipment for use in manufacturing or processing. The proposed changes would also expand eligibility for the non-refundable tax credit to non-Canadian-controlled private corporations and publicly traded corporations making eligible investments in Ontario. The budget says these changes would help businesses lower their costs by providing an additional $1.3 billion in support over the next three years. The budget also outlines a $50-million investment over three years to focus on expanding interprovincial trade. It also earmarks $500 million in funding to support critical mineral processing. The budget is also pledging a new program that would provide up to $40 million in grants for communities impacted by trade disruptions. The government also plans to invest an additional $1 billion over the next three years to train skilled workers. HEALTH CARE The budget says the government will invest more than $235 million this year to establish and expand up to 80 more primary care teams, which it says will connect 300,000 more people to primary care. It also says it will invest up to $280 million over two years to support the expansion of integrated health service centres that will help more Ontarians access MRI and CT scans, among other services. The budget pledges a new refundable tax credit to support 25 per cent of fertility treatment expenses, for a maximum credit of $5,000 per year. It also plans to increase the province's investment to the Ontario Autism Program, bringing this year's total funding to $779 million. EDUCATION The budget is promising close to $2 billion for the upcoming school year to repair and maintain schools. Last December, the province's fiscal watchdog found that the province has a $12.7-billion school repair and construction backlog, and it would cost $31.4 billion over 10 years to clear it. The budget also says the government will invest $55.8 million over two years to train 2,600 new teachers by 2027. It's also pledging $75 million over three years to create up to 2,600 new seats in construction-related post-secondary programs, and $750 million over five years to fund up to 20,500 seats in science, technology, engineering and math programs at colleges and universities. It further outlines $10 million over three years to create new scholarship opportunities for First Nations post-secondary students interested in pursuing careers in resource development. It's also earmarking an additional $207 million over three years in funding for research at Ontario universities. ALCOHOL AND CANNABIS The budget outlines an increase to the Liquor Control Board of Ontario's wholesale discount rate from 10 per cent to 15 per cent for bars, restaurants, convenience stores and LCBO convenience outlets until the end of this year. The budget estimates the measure will save Ontario businesses about $56 million. The budget also proposes an Ontario Grape Support Program to provide up to $35 million in annual support for eligible wineries until 2029-30, with total program funding of $175 million. It says it anticipates the move will double the percentage of Ontario grapes in blended wine. It further outlines plans to expand its investment in the VQA Wine Support Program to $84 million annually, with total program funding of $420 million over the next five years. The government also plans to introduce changes for retail cannabis stores to "improve their outside visibility," by allowing them to take down their window coverings. SECURITY AND PUBLIC SAFETY The budget proposes $1 billion in funding to expand and renovate the Ontario Police College in Aylmer, Ont., and a new Ontario Provincial Police academy in Orillia, Ont. It also proposes $8.8 million to support a one-time additional intake of up to 300 recruits in the basic constable training program. It's proposing an additional $113 million over the next three years to combat illegal cross-border activity through measures such as air patrols and firearm seizures. It earmarks $57 million for two new helicopters for police in Niagara Region and Windsor. Last year, the government announced $134 million for five helicopters for the Greater Toronto Area and Ottawa. The budget also earmarks $6 million to help tackle auto theft in the province, and $12.8 million this year to help faith-based and cultural organizations implement safety measures such as hiring security staff and building repairs. This report by The Canadian Press was first published May 15, 2025. Rianna Lim, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Winnipeg Free Press
15-05-2025
- Business
- Winnipeg Free Press
Highlights of Ontario's 2025 budget: U.S. tariff measures, boost for alcohol market
TORONTO – The Ontario government tabled a budget Thursday that focused on investments it says will protect Ontario workers in the face of U.S. President Donald Trump's tariffs. The province is projecting a deficit of $14.6 billion this year, up from a forecast of $4.6 billion in last year's budget, and a deficit of $7.8 billion next year. Finance Minister Peter Bethlenfalvy said the budget seeks to help Ontario businesses and workers 'weather the storm' to make the province's economy resilient and competitive. Here are the highlights: U.S. TARIFFS AND ONTARIO WORKERS The budget is pledging to create a $5-billion fund to provide immediate relief to support sectors of the economy facing tariff-related disruptions. The budget describes this fund as an 'emergency backstop' that will provide immediate relief for Ontario businesses that have exhausted available funding. It also pledges to expand the Ontario Made Manufacturing Investment Tax Credit rate from 10 per cent to 15 per cent. It can be used for qualifying investments in buildings, machinery and equipment for use in manufacturing or processing. The proposed changes would also expand eligibility for the non-refundable tax credit to non-Canadian-controlled private corporations and publicly traded corporations making eligible investments in Ontario. The budget says these changes would help businesses lower their costs by providing an additional $1.3 billion in support over the next three years. The budget also outlines a $50-million investment over three years to focus on expanding interprovincial trade. It also earmarks $500 million in funding to support critical mineral processing. The budget is also pledging a new program that would provide up to $40 million in grants for communities impacted by trade disruptions. The government also plans to invest an additional $1 billion over the next three years to train skilled workers. HEALTH CARE The budget says the government will invest more than $235 million this year to establish and expand up to 80 more primary care teams, which it says will connect 300,000 more people to primary care. It also says it will invest up to $280 million over two years to support the expansion of integrated health service centres that will help more Ontarians access MRI and CT scans, among other services. The budget pledges a new refundable tax credit to support 25 per cent of fertility treatment expenses, for a maximum credit of $5,000 per year. It also plans to increase the province's investment to the Ontario Autism Program, bringing this year's total funding to $779 million. EDUCATION The budget is promising close to $2 billion for the upcoming school year to repair and maintain schools. Last December, the province's fiscal watchdog found that the province has a $12.7-billion school repair and construction backlog, and it would cost $31.4 billion over 10 years to clear it. The budget is also pledging $10 million over three years to create new scholarship opportunities for First Nations post-secondary students interested in pursuing careers in resource development. It's also earmarking an additional $207 million over three years in funding for research at Ontario universities. ALCOHOL AND CANNABIS The budget outlines an increase to the Liquor Control Board of Ontario's wholesale discount rate from 10 per cent to 15 per cent for bars, restaurants, convenience stores and LCBO convenience outlets until the end of this year. The budget estimates the measure will save Ontario businesses about $56 million. The budget also proposes an Ontario Grape Support Program to provide up to $35 million in annual support for eligible wineries until 2029-30, with total program funding of $175 million. It says it anticipates the move will double the percentage of Ontario grapes in blended wine. It further outlines plans to expand its investment in the VQA Wine Support Program to $84 million annually, with total program funding of $420 million over the next five years. The government also plans to introduce changes for retail cannabis stores to 'improve their outside visibility.' SECURITY AND PUBLIC SAFETY Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. The budget proposes $1 billion in funding to expand and renovate the Ontario Police College in Aylmer, Ont., and a new Ontario Provincial Police academy in Orillia, Ont. It also proposes $8.8 million to support a one-time additional intake of up to 300 recruits in the basic constable training program. It's proposing an additional $113 million over the next three years to combat illegal cross-border activity through measures such as air patrols and firearm seizures. It earmarks $57 million for two new helicopters for police in Niagara Region and Windsor. Last year, the government announced $134 million for five helicopters for the Greater Toronto Area and Ottawa. The budget also earmarks $6 million to help tackle auto theft in the province, and $12.8 million this year to help faith-based and cultural organizations implement safety measures such as hiring security staff and building repairs. This report by The Canadian Press was first published May 15, 2025.
Yahoo
05-05-2025
- Business
- Yahoo
Ontario will 'suit up' to fight against possible 100% U.S. tariffs on films, minister says
Ontario will head down to Washington to fight against a possible 100 per cent tariff on films coming into the U.S. that are not produced in the country, the province's minister of economic development said. U.S. President Donald Trump said he is authorizing the Department of Commerce and the U.S. Trade Representative "to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands" in a post on his social media platform Truth Social on Sunday. Min. Vic Fedeli said the province will "suit up again for yet another assault" in response to Trump's post, speaking at a news conference in Oakville on Monday. "We'll suit up, just like we have for every other particular mention of a tariff, head back down to Washington … and fight them one by one," he said. Fedeli, who is MPP for Nipissing, said he has a particular interest in the film industry due to a number of Hallmark films that are filmed in North Bay — which he referred to as "Christmas kissy face movies." "This is a direct assault to our film sector all through Ontario," he said. Minister of Finance Peter Bethlenfalvy, who was also at Monday's news conference, said the province will do what it takes to support all businesses amidst the U.S. tariff threat. "There are many industries that are under attack. We have to face the reality that this is a policy choice coming out of south of the border," he said. The government announced a five per cent increase in the Ontario Made Manufacturing Investment Tax Credit at Monday's conference, which will be included in the province's 2025 budget. The credit is a refundable corporate income tax credit for corporations on qualifying investments in buildings, machinery and equipment, according to a provincial news release from 2023. It will increase from 10 to 15 per cent, Bethlenfalvy said. He said he's also proposing to expand eligibility for a non-refundable tax credit to non-Canadian-controlled private corporations and publicly-traded corporations making eligible investments in Ontario. The government says the changes would mean providing an additional $1.3 billion over three years, and businesses could receive a tax credit of up to $3 million per year. Bethlenfalvy said provincial ministers are "attached at the hip" with their federal counterparts and are having ongoing discussions about Canada's response to U.S. tariffs. Prime Minister Mark Carney is meeting Trump at the White House on Tuesday. Meanwhile, Ontario Premier Doug Ford wrote a letter to Carney on Monday, setting out a series of Ontario priorities that he hopes the prime minister will address, including accessing critical minerals, building an electric-vehicle supply chain and enacting bail said in his letter that at a meeting in March with the premiers, Carney asked them to identify "nation-building projects." Ford said he would like the federal government to prioritize development in the Ring of Fire, nuclear energy generation, GO passenger train service, a new James Bay deep-sea port and a driver and transit tunnel expressway under Highway 401. Opposition critics have ridiculed the tunnel idea as being a "fantasy," saying it would cost tens of billions of dollars and not truly address gridlock. The Ford government is seeking proposals for a feasibility study for the tunnel, but the premier has pledged to get it built no matter what. Ford addressed the possible tariff for films at Queen's Park on Monday, saying Trump is "going after the entire world." "This guy, he's just unbelievable. It's everyday something new with him," he said. "I think he has to start moving quick before the midterms because it's not going to look good for him," Ford said, referencing Trump's polling numbers. The 100 per cent tariff on films would "completely devastate" Canada's film industry, said Barry Hertz, deputy arts editor and film editor for The Globe and Mail in an interview with CBC Radio's Metro Morning. About half of all Canadian film and television production is based on foreign service and location shoots, which is when productions outside the country — often based in Hollywood — film in Canada, he said. These productions employ local crews, production managers, producers and local talent, Hertz said. "If there's a 100 per cent tariff or any kind of tariff for that kind of content, no Hollywood or American production company is going to want to come here," he said. "It would be prohibitively expensive and thus it would hollow out our industry." He said there is a "legitimate concern" in the U.S. film industry as locations around the world are offering incentives for movies to be filmed there, such as through tax credits and a cheaper labour force. But he said nobody in the film industry wants these tariffs. "This would just implode the industry." LISTEN | 100 per cent tariffs could implode the film industry, expert says: Mayor Olivia Chow said American films made in Toronto create 30,000 jobs and generate some $2.6 billion for the local economy. "The film industry is very global and it is not as simplistic [as] ' can we just make everything in the USA?'" she said, speaking at city hall on Monday. "How are you going to be able to do that?" While the city does not provide its own tax credit to the film industry, Chow said it provides a film office that "make[s] life a lot easier for the companies to find the right people in the right place to do the kind of films they want."
