ONTARIO LIBERALS TO EXTEND FUNDING FOR JOBS AND PROSPERITY FUND

NDP Would End Job-Creating Business Partnerships, Costing Ontario Jobs and Growth


Tuesday, May 29, 2018


OAKVILLE — Premier Kathleen Wynne was at a construction site today where Burloak Technologies — a Jobs and Prosperity Fund (JPF) recipient — is building a new world-leading 3D printing centre, creating 65 new jobs and retaining 16 positions.  The Premier announced that the Ontario Liberals would invest an additional $900 million over ten years in the JPF if re-elected. Working with businesses in communities across Ontario, the JPF would continue to support hundreds of thousands of new well-paying jobs, spark and sustain forward-looking industry and leverage up to $10 billion in additional private sector economic investment.

The Premier warned that under the NDP, these new investments would go unmatched as part of the party’s rigid ideological aversion to working with businesses to foster economic growth. It’s a failure that would put at risk the careful balance underpinning Ontario’s current economic success by ending job-creating business partnerships and driving companies, jobs and investment out of Ontario.

The NDP would punish successful businesses with an unrealistic and impractical mix of policies that would not only cost jobs but reduce our province’s long-term competitiveness by: 

  • Failing to partner with companies like Burloak Technologies by extending funding for the Jobs and Prosperity Fund 
  • Hiking business property taxes by $1 billion across our province, for an average spike of 28% per business 
  • Eliminating Ontario’s innovative AFP infrastructure model, which would slow progress on the construction of roads and bridges and public transit systems
  • Raising the corporate income tax rate and wiping out a significant structural advantage versus the United States that Ontario enjoys in attracting investment and industry 

Only a balanced and thoughtful economic plan will grow Ontario’s economy through this period of rapid globalization and the rising tide of U.S. protectionism. The Liberal plan does exactly that, with a vision for an economy that is both competitive and compassionate. It includes: 

  • Standing up for Ontario workers as NAFTA is renegotiated. Over the last year, Premier Wynne has worked with 37 U.S. Governors to bolster jobs, trade and cooperation between our economies.
  • Investing in the Jobs and Prosperity Fund, by partnering with growth-oriented, job-creating businesses 
  • Raising the minimum wage to $14 and then $15 an hour, which is already changing lives — food bank usage in Ontario is down for the first time.

Meanwhile, the Conservatives think we can cut our way to growth. They would roll back the minimum wage and offer in its place an income tax cut worth about $18 a year. Doug Ford will also cut billons from the services people depend on — like health care, education and transit — while rewarding the rich with unnecessary corporate tax cuts. Their economic plan would put Ontario in a race to the bottom. 

Only Ontario Liberals will grow our economy in a way that supports the services people rely on. Our plan expands publicly funded prescription drugs to cover one-in-two people in Ontario, makes the largest mental health care investment in Canadian history, builds a record amount of transit, boosts hospital funding, helps more people go to college or university with publicly funded tuition and lets more parents go back to work by funding preschool child care from 2 ½ to kindergarten. Ontario’s economy is growing stronger, but that growth and the care and services it funds are at risk this election.

QUOTE

“If you want to be entrusted with the keys to Canada’s economic engine, you need a balanced and practical plan. You can’t be bound to your ideology like the NDP. And you can’t be blind to the needs of our workers like the Conservatives. Only the Ontario Liberals will grow an economy that is just as competitive as it is compassionate, and just as fair as it is fiscally sound.”

—Premier Kathleen Wynne

 

"On behalf of Burloak Technologies, I would like to thank the Premier of Ontario and her government for its support of this exciting new expansion and for the vision shown in understanding the importance of having Ontario and Canada play a global role in advanced manufacturing. Without the support of the governments Jobs and Prosperity Fund, this project would not have gone ahead in Ontario."

—Peter Adams, President and Co-Founder, Burloak Technologies
 

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For more information:
communications@ontarioliberal.ca