Ontario Budget Talks End this Week

The Minister of Finance and the Standing Committee on Finance and Economic Affairs have been touring the province seeking Ontarian’s input on the 2014 provincial budget. The tour began last week in Kitchener and will conclude this Friday in Kingston.

The provincial budget is a key piece of legislation that outlines the government’s expected revenues and planned expenditures for the upcoming year. In Canada, the provinces have the power to make or change laws related to areas such as healthcare, education, and the delivery of social services. How these funds are raised and allocated will affect everyone.

The provincial government seeks input from the public (citizens, industry representatives, businesses and associations) that helps to inform the budget’s creation in advance of presenting it to the legislature.

OREA will be making a submission to the committee and the Minister of Finance outlining what we believe should be in the 2014 Ontario Budget. For example, in this year’s submission, OREA is recommending that the Government of Ontario make the necessary legislative changes to allow real estate salespeople to incorporate. .

Since the Liberals were elected in 2011 with a minority government, they have had to work with opposition parties to secure support for their budget bill. Last year, Andrea Horwath’s New Democrats negotiated certain concessions in exchange for her party’s support. Although PC leader Tim Hudak has said he plans on voting against this year’s budget it is unclear if the NDP leader will once again lend her party’s support in exchange for certain demands.

The budget vote will likely determine if and when Ontarians head to the polls. If the government and the opposition cannot reach an agreement it is likely Ontario will face a spring general election.

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Ontario Budget Talks End this Week