Finance Minister Rod Phillips said that the $17 billion plan includes $10 billion in support for people and businesses through tax and other deferrals and $7 billion in additional resources for the health care system. The plan also includes a dedicated $1 billion COVID-19 contingency fund, a $2.5 billion reserve and an increased contingency fund of $1.3 billion to provide continued flexibility to respond to changing global circumstances.
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For Families/Seniors/Students/Frontline Workers:
- A one-time payment of $200 per child up to 12 years of age, and $250 for those with special needs, including children enrolled in private schools.
- Six months of Ontario Student Assistance Program (OSAP) loan and interest accrual relief for students, leaving more money in people’s pockets.
- Proposing to double the Guaranteed Annual Income System (GAINS) payment for low-income seniors for six months.
- $5.6 billion for electricity cost relief programs in 2020-21, which is an increase of approximately $1.5 billion compared to the 2019 Budget plan.
- Affordable electricity bills by setting electricity prices off-peak price, 24 hours a day for 45 days to support ratepayers in their increased daytime electricity usage.
- $9 million in direct support to families for their energy bills by expanding eligibility for the Low-income Energy Assistance Program (LEAP) and ensuring that their electricity and natural gas services are not disconnected for nonpayment during the COVID-19 outbreak.
- Providing emergency child care options to support parents working on the front lines, such as health care workers, police officers, firefighters and correctional officers.
- Emergency assistance programs administered by Ontario Works to provide financial support to people facing economic hardship and help more people meet basic needs such as food and rent during this public health emergency.
For Businesses:
$10 billion in support for people and businesses through tax and other deferrals including:
- $6 billion by providing five months of interest and penalty relief for businesses to file and make payments for the majority of provincially administered taxes.
- $1.8 billion by deferring the upcoming June 30 quarterly municipal remittance of education property tax to school boards by 90 days, which will provide municipalities the flexibility to, in turn, provide property tax deferrals to residents and businesses, while ensuring school boards continue to receive their funding.
- $1.9 billion by the Workplace Safety and Insurance Board (WSIB) allowing employers to defer payments for up to six months.
- Cutting taxes by $355 million for about 57,000 employers through a proposed temporary increase to the Employer Health Tax (EHT) exemption.
For Health Care:
- $1.0 billion COVID-19 contingency fund for emerging needs related to the COVID-19 outbreak.
- $935 million for the hospital sector, including $594 million to accelerate progress on the government’s commitment to address capacity issues
- $341 million for an additional 1,000 acute care and 500 critical care beds and additional assessment centres.
- $160 million to support COVID-19 monitoring, surveillance, and laboratory and home testing, while also investing in virtual care and Telehealth Ontario.
- $243 million for surge capacity in the long-term care sector, as well as funding for 24/7 screening, more staffing to support infection control, and supplies and equipment to help tackle the COVID-19 outbreak.
- $75 million to supply personal protective equipment and critical medical supplies to front-line staff to tackle COVID-19.
Other Benefits:
- $148 million for charitable and non-profit social services organizations such as food banks, homeless shelters, churches and emergency services to improve their ability to respond to COVID-19, by providing funding directly to Consolidated Municipal Service Managers and District Social Service Administration Boards who would allocate this funding based on local needs.
- Helping to support regions lagging in employment growth with a proposed new Corporate Income Tax Credit, the Regional Opportunities Investment Tax Credit.
- $26 million to Indigenous peoples and communities, including emergency assistance for urban Indigenous people in financial need, and costs for health care professionals and critical supplies to reach remote First Nations.
- $1.8 billion by deferring the upcoming June 30 quarterly municipal remittance of education property tax to school boards by 90 days, which will provide municipalities the flexibility to, in turn, provide property tax deferrals to residents and businesses, while ensuring school boards continue to receive their funding.
- $1.9 billion by the Workplace Safety and Insurance Board (WSIB) allowing employers to defer payments for up to six months.