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Productivity must be priority in March 26 budget: Ontario chamber

Ontario Chamber urges investments in skills, infrastructure and building healthy communities
Northern Ontario Business Staff
Queen's Park 3

The Ontario Chamber of Commerce points to inflation, infrastructure backlogs, regulatory barriers, skills gaps, and general fears of a slowing economy as being threats to Ontario’s economic prosperity.

In a nutshell, that’s in the chamber’s submission to the provincial government for its upcoming budget on March 26.

The chamber is calling on the province to “close Ontario’s productivity gap through a principled growth strategy to address these challenges.”

“In 2024 and beyond, productivity must be Ontario’s priority,” said Daniel Tisch, chamber president-CEO in a news release.

“Capital will flow where productive capacity is highest, and we want it to flow to Ontario. That’s why the budget must focus on policies that support immediate growth while investing in an educated workforce, long-term infrastructure, and healthy, sustainable communities.”

Among their key recommendations are:

  • Addressing Ontario’s labour shortages by supporting a financially sustainable post-secondary education sector, advancing upskilling and reskilling initiatves
  • Cultivating business competitiveness and sustainable growth by improving access to private capital and credit for small businesses, removing barriers to interprovincial and international trade, and supporting key sectors such as clean energy, cannabis, and tourism.
  • Investing in resilient, healthy communities by tackling primary care and broader health human resource crises, combating growing rates of mental health and addiction challenges, and expediting the implementation of Ontario’s life sciences strategy.
  • Building strong foundations through infrastructure by leveraging partnerships to build and preserve affordable housing along the continuum, investing in energy generation, transmission, and distribution infrastructure, and continuing to accelerate broadband rollout across the province.

The chamber said its submission’s were developed with consultation from business, unions, postsecondary institutions, non-profits, industry groups and 150 chamber of commerce and boards of trade.

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