2023 Ontario Budget Highlights

Finance Minister Peter Bethlenfalvy introduced the 2023 Ontario Budget: Building a Strong Ontario on March 23, 2023. The plan highlights the ongoing economic uncertainty faced by Canada and Ontario.

Budget 2023 invests in increased financial support for seniors and mental health and addictions services.

Seniors

• Providing financial support to more seniors by proposing to expand the Guaranteed Annual Income System (GAINS) program, starting in July 2024, to 100,000 additional seniors and annually adjust the benefit to inflation.

Mental Health

• $425 million over three years to support mental health and addictions services, including a five per cent increase in the base funding of community-based mental health and addictions services providers funded by the Ministry of Health.

Child welfare

• $170 million over three years to support the Ready, Set, Go program to help youth leaving the child welfare system to achieve financial independence through life skills development, supports to pursue postsecondary education, training and pathways to employment.

Cost reduction

• Continuing to provide gas tax and fuel tax rate cuts until December 31, 2023.
• Eliminating double fares for most local transit services in the Greater Golden Horseshoe when commuters also use GO Transit services. The government is working to expand this initiative to support more people using public transit to come into Toronto.
• Targeted support for Electricity Rate mitigation for eligible low-income households, on- reserve First Nation consumers and eligible rural and remote customers.

Supportive housing

• $202 million a year for the Homelessness Prevention Program and Indigenous Supportive Housing Program to help those experiencing or at risk of homelessness and those escaping intimate partner violence, and support the community organizations delivering supportive housing.

Reviewing Ontario’s tax system

• The tax review will prioritize competitiveness and long‐term growth in the province, as well as the fairness and effectiveness of tax relief and supports.

Modernizing Ontario’s tax administration system

• Ontario is making improvements to simplify tax administration by creating a more convenient, modern and digital platform to provide better customer service and to ensure tax and benefit services are delivered simply and quickly.

Skills training for workers

• $15M over 3 years for workers looking to retrain and get the skills they need for in‐demand careers. Better Jobs Ontario provides eligible applicants with up to $28,000 to cover expenses including childcare, tuition and transportation for short‐term training programs. The program is available for job seekers across Ontario such as youth, gig workers, newcomers and those on social assistance who face barriers finding stable jobs.