Minister of Finance to Release 2021 Ontario Economic Outlook and Fiscal Review on November 4
The Ontario government is furthering its commitment in the Speech from the Throne to protect people’s health and the province’s economy through the 2021 Ontario Economic Outlook and Fiscal Review, which will be released on Thursday, November 4.
Peter Bethlenfalvy, Minister of Finance, will release the government’s plan to protect Ontario’s hard-won progress against COVID-19, while building the foundation for economic growth and prosperity by delivering on critical infrastructure, supporting workers, and creating the right environment to attract investment and jobs.
“The job is not done and soon I will release our government’s next fiscal update, a plan that will protect the hard work and sacrifice of the people of Ontario in our fight against the COVID-19 pandemic,” said Minister Bethlenfalvy. “The plan will also look forward, towards building a strong, prosperous province for everyone.”
The 2021 Ontario Economic Outlook and Fiscal Review will build on the 2021 Budget – Ontario’s Action Plan: Protecting People’s Health and Our Economy, which brought the Province’s COVID-19 response to $51 billion over three years, including:
- Making available $1 billion for a provincewide vaccination plan that has seen Ontario achieve one of the highest rates of vaccination in the world.
- Earmarking $5.1 billion to support hospitals since the pandemic began, creating more than 3,100 additional hospital beds to ensure every person who requires care in a hospital can access a bed, even during the worst of the pandemic.
- Investing nearly $5 billion over four years to increase the average direct daily care for long-term care home residents to four hours a day and hiring more than 27,000 new positions, including personal support workers (PSWs) and nurses.
- Delivering nearly $3 billion in urgent and unprecedented support to over 110,000 small businesses across the province through the Ontario Small Business Support Grant.
“We will remain vigilant as we continue to safely and successfully reopen Ontario together,” said Minister Bethlenfalvy. “Our government is making the necessary investments to protect the progress we’ve made while putting the right conditions in place for growth.”