"Tax cuts and cash for nation building projects are high on Ontario's wish list for today's federal budget, as all eyes at Queen's Park turn to Ottawa for Prime Minister Mark Carney's first spending plan. Finance Minister Peter Bethlenfalvy told a business audience on Monday that federal tax cuts could help the economy as the impact of U.S. tariffs becomes more pronounced with each passing week."
"I'd love to see lower taxes, because for too long out of Ottawa, we saw taxes go up, Bethlenfalvy said. We're starting to see that ship turn. The federal budget lands just two days before Ontario will deliver its own key fiscal update, the fall economic statement. It also comes as economic uncertainty caused by U.S. President Donald Trump's trade policy has hurt business investment and Ontario's auto, steel and aluminium sectors."
Ontario expects the federal budget to include tax cuts and funding for nation-building projects as trade uncertainty from U.S. tariffs weighs on investment. Finance Minister Peter Bethlenfalvy urged federal personal income tax reductions and HST relief for first-time homebuyers to ease affordability and stimulate construction. Ontario previously cut sales tax for first-time buyers and submitted a project list seeking support for nuclear advancement, a Highway 401 tunnel and the mineral-rich Ring of Fire. A projected federal deficit between $50 billion and $100 billion creates fiscal uncertainty, but provincial leaders insist fiscal responsibility can coexist with targeted tax relief.
Read at www.cbc.ca
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