2023 Provincial Pre-Budget Submission

2023 Provincial Pre-Budget Submission
The London Chamber of Commerce has put together a pre-budget submission for Ontario’s Pre-Budget Consultation process to be sent to the Minister of Finance’s office. This submission is intended to provide recommendations on the Provincial budget from the perspective of business owners across both London and the province as a whole. The 2023 budget comes at an important time as the province is tackling broad and complex issues such as housing shortages, labour shortages, supply chain disruptions, and the persistent issues caused by inflation.

This submission includes three main categories from which the province can begin to address some of these issues; sustainable growth, complete communities, and modernization.

When the economic landscape over the past two years has been unpredictable, Ontarians need sustainable growth in order to ensure stability as our economy continues to rebound. Labour shortages are persistent across the province and business owners need to see action from the province in order to operate efficiently and effectively. Ontario also needs to utilize its best assets in order to build the economy back up. This must include Ontario’s robust entertainment and tourism sector that is in need of help after years of not being able to operate. London’s very own designation as a member of the UNESCO Creative Cities Network will prove to be an invaluable asset to the province if given the right opportunities.

Communities are the foundation of our economy, and their well-being requires adequate infrastructure and resources to withstand both current and future risks. This infrastructure investment ranges anywhere from expanded internet access for rural communities to more new housing starts to increase Ontario’s housing supply. These investments to our communities must also be made in key areas that will help to tackle the issues of homelessness, addiction, and mental health. If we want to see meaningful action take place to help the individuals that need it most, we need to see more investment from the province into programs like the Community Outreach and Support Team (COAST) formed here in London.

Finally, the province needs to modernize at a more rapid pace if we want to remain relevant to the quickly changing international landscape. Red tape reduction and the modernization of government programs, services, and regulatory frameworks remain critical for enabling business growth and productivity. Beyond this, modernization leads to improved outcomes and better value for taxpayer dollars, making Ontario a more attractive place to invest, work, and live.