SCREENSHOT — Ontario Minister of Finance Peter Bethlenfalvy tabled the government’s 2023 Ontario Economic Outlook and Fiscal Review in the Ontario legislature today.
In addition, the government proposed spending $200 million over three years in a new Housing-Enabling Water Systems Fund, for the repair, rehabilitation and expansion of a variety of municipal water infrastructure projects. At the outset, the projects financed through the new agency will be focused on long-term care homes, energy infrastructure, affordable housing, municipal and community infrastructure and transportation, Bethlenfalvy said.
Another new infrastructure commitment in the economic statement was a proposal to boost critical mineral exploration through an additional $12 million per year in tax credit support. The government would expand eligibility of the Ontario Focused Flow-Through Share Tax Credit to include critical minerals that qualify for the federal Critical Mineral Exploration tax credit, starting with the 2023 tax year.
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