2004 Ontario Budget Highlights

Economic Growth

 

The 2004 Budget proposes a number of important measures to attract investment, allow business to grow and prosper and encourage research commercialization and innovation.

 

Specific proposals include:

• Gradual elimination of the capital tax by 2012.
• Encouraging employers to hire apprentices through a new Apprenticeship Training Tax Credit.
• Creating a small business agency.
• Changing capital cost allowances to allow faster write-offs on computer and data network infrastructure equipment.
• Introducing a Northern Ontario Grow Bonds program to foster small and medium sized business development.
• Creating a $36 million program to help public research institutions access private capital for commercialization purposes and
• Developing a 10-year strategic infrastructure plan.

 

Health Care

The government plans to transform the health care system to make it more patient focused, consumer- oriented and results driven.

Investments in the health care system will:

• Reduce wait time for cancer care, provide 36,000 more cardiac procedures, another 9,000 cataract surgeries, 2,340 more joint replacements and 529,000 more dialysis treatment.
• Add 150 new Family Health Teams of doctors, nurses, and nurse practitioners.
• Provide home care for an additional 95,700 Ontarians.
• Open 3,760 more long-term care beds and
• Add chickenpox, meningitis and pneumonia to the children’s free immunization program this year.

To fund the investments in health care, the government is proposing to introduce the Ontario Health Premium. The premium will be based on income:

Premiums for 2004 would be half the amounts for 2005.

 

Students

The government’s plan for education will provide significant new investments in children and their schools: 

• Cap class sizes at 20 between JK and Grade 3.
• Increase to 75% the proportion of students that meet provincial standards for reading, writing and math.
• Train 1,000 more teachers and
• Train 4,000 new teacher specialists in literacy and numeracy.

 

Stronger Communities

The government will:

• Provide two cents of the existing provincial gas tax to municipalities for public transit.
• Help farmers comply with the Nutrient Management Act.
• Invest nearly $1 billion to repair and expand highways.
• Raise the basic needs and maximum shelter allowances under the Ontario Disability Support Program and Ontario Works by three per cent and
• Propose to increase the property tax credit for low and moderate income seniors.