Fall Economic Statement Ushers in a New Era

November 15th, 2018

(QUEEN’S PARK) Ontario’s Government for the People is putting more money back in people’s pockets in Lanark-Frontenac-Kingston by introducing one of the most generous tax cuts for low-income workers in a generation – the Low-Income Individuals and Families Tax Credit (LIFT).

Those who earn $30,000 or less would pay zero personal income tax on their 2019 tax returns. It represents up to $850 per person and up to $1,700 per couple in savings.

“This tax cut will leave more money in the pockets of families and taxpayers,” said Hillier. “I’m proud to be part of a government that is putting people, not the government, at the heart of their fiscal plans.”

The Government’s Fall Economic Statement laid out the government's economic plans which have already included $3.2 billion in savings from efficiencies which paved the way for $2.7 billion in tax savings for people and businesses throughout the province. This also allowed the government to shave down the deficit by $500 million, putting the province back on track to fiscal health.

“The future's looking brighter than ever, we are cutting costs without reducing front-line service jobs, addressing the deficit and debt while supporting job growth in high paying industries such as the skilled trades,” explained Hillier.

“We’re bringing back the prosperous Ontario we all know and love, and it’s clear to everyone that Ontario is open for business,” proclaimed Hillier.

You can view Minister Friedli's speech here and view the Fall Economic Statement in full here.



Contact: Perth Office 613-267- 8239
Queen’s Park 416-325- 2244
[email protected]

Showing 1 reaction

  • Bob Boutwell
    commented 2018-11-17 09:20:11 -0500
    Where does the money for roads, health care, environmental protection, immigration, welfare, human rights advocacy, etc come from then. Tell me, Big Business, cutting taxes gets votes, but certainly doesn’t pay the bills. Someone has to pay the piper if we want to at least maintain our accustomed lifestyle…

    or…Claw money back in one hand, give it back in another, get votes from both the greedy and the poor. Genius.