Parry Sound-Muskoka MPP Graydon Smith said the provincial budget passed Thursday, May 15 is a budget designed for the times.
“We know that they are uncertain times due to tariff times, and really, it’s a plan to ensure that we can continue to drive the Ontario economy forward and take action where needed.”
Graydon was asked how the budget might impact local communities. He said a couple of things that are standing out for him on the first read in this budget include changes to the tax regime for craft brewing and the alcohol market in Ontario. Specifically, the budget includes a significant reduction in the basic tax rate for microbreweries in Ontario, potentially leading to lower prices for consumers and increased profitability for brewers.
“I literally just got off the phone with one of our major brewers here in the riding who has told me it is nothing but the greatest of great news that is going to allow them to continue to grow and expand and thrive, so I think we are seeing immediate impacts less than 24 hours after the budget being released,” said Smith.
He said the budget is also providing support for manufacturers in Ontario and programs to protect sectors hit hardest by U.S. tariffs. The budget also promises to increase the Ontario Made Manufacturing Investment Tax Credit rate from 10 to 15 per cent, which can be used for investments in items such as buildings, machinery, and equipment for use in manufacturing or processing.
“And then when we look at more very local things, like the Northlander and our continued commitment to that, increase in primary care to continue to expand primary health teams across the province, more money for the NOHFC fund… which Muskoka is now a part of, that’s an economic development fund and more money into housing-enabling water systems,” added Smith. “So we saw the District get 50 million dollars last year for work that they’re doing to expand the water system specifically in Huntsville to allow for more homes. As that money continues to flow, and the water and sewer can flow, that’s the basis for more homes. So, lots of opportunities for us here locally to benefit from this budget.”
Smith said he expects there’ll be more to come on the budget in the near future.
You can find the budget HERE.
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