Region of Waterloo responds to Ontario fall budget
Waterloo Region – Yesterday’s provincial budget provided a three-year fiscal outlook for Ontario. The budget recognizes we are in unprecedented times; it focuses on the support needed to manage the pandemic, on addressing the COVID-19 challenges and economic difficulties, and supports key investments to deliver on an economic recovery.
In addition to the welcomed Safe Restart Funding, the Region of Waterloo’s budget submission specifically asked the province for a reduction on the business education tax rate, long term funding commitments from the province on transit, affordable housing, broadband, and infrastructure funding.
“One the Region’s key budget submission asks that came as a recommendation from our COVID-19 Economic Recovery Committee was to accelerate the reduction of education tax rates in Waterloo Region to provide tax relief to all commercial and industrial businesses and reduce the inter-regional tax disparities,” said Councillor Sean Strickland, Chair of Administration and Finance Committee and Co-Chair of the Region’s Ad Hoc COVID-19 Economic Recovery Committee. “The budget announced that the government is lowering the Business Education Tax rates in recognition of this long-standing municipal concern.”
Also included in the budget is mention of the new temporary COVID-19 Resilience Stream from the province and federal governments under the Investing in Canada Infrastructure Program of which the Region has been allocated $4 million. This funding will be used towards shovel-ready projects with construction to commence and finish in 2021.
The Region was also pleased to see mention of local infrastructure projects including:
- Highway 7 between Kitchener to Guelph;
- Highway 401 widening between Hespeler Road and Townline Road in Cambridge; and
- Two-Way All Day Go Service on the Kitchener Line and the mention of milestone projects on the transformation of the Kitchener GO line including completion of the first tunnel in August and completion of the second tunnel expected in December signals to us the governments commitment to this project.
“The Toronto Waterloo Region Innovation Corridor will play a key role in Ontario’s economic recovery,” said Regional Chair, Karen Redman. “These new investments by the Province will allow us to move a number of projects forward across Waterloo Region that will help stimulate our local economy.”
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For more information, please contact:
TJ Flynn, Acting Director, Corporate Communications at 519-575-4400 ext. 3301 or