How to make Ontario’s Budget 2018 the Income Security Budget
Published on 08/02/2018
Submission to the Ontario Minister of Finance regarding Budget 2018
In the spring of 2018, the Ontario government will table the final budget of this parliament. The role of provincial budgets is to invest in residents’ wellbeing and ensure future growth. With poverty linked to negative and costly outcomes, Maytree believes that a budget that invests in the future prosperity of Ontario is one that invests in greater income security.
Maytree’s submission suggests how Budget 2018 can deliver greater prosperity by increasing support to low-income workers, unpaid family carers, and those excluded from the labour market. In particular, Maytree offers recommendations in four areas:
Modernizing Ontario’s response to working poverty – using the federal government’s investment in Working Income Tax Benefit to launch a taskforce that investigates how the benefits and tax credits paid to low-income workers can be better designed to support them in the face of a changing labour market.
Protecting the poorest from falling further behind – demonstrating the province’s commitment to transforming social assistance by boosting social assistance values and putting forward legislation to guarantee that these values increase with prices at a minimum.
Delivering housing affordability by investing in supply and demand – providing support for people in housing need by announcing the creation of an Ontario housing benefit available to all those in need and not just those on social assistance; dealing with the wider shortage in affordable housing by investing in ways to provide affordable rental units through the forthcoming inclusionary zoning bylaws.
Preparing for the future by renewing investment in care and carers – beginning to tackle the challenge of our aging population by making the new Ontario Caregiver Tax Credit refundable so it can benefit those carers making the biggest financial sacrifices; committing to a long-term investment in supporting people in need of care and family carers, starting with a review of the financial supports available to them.