As U.S. tariffs continue to threaten Ontario jobs and businesses, Doug Ford and the Ontario PC team are taking action to protect our economy, attract new investment and create more good-paying jobs.
The Ontario PC government has announced a new $8 billion Ontario Competitiveness Tax Cut, a major step in our plan to make Ontario the most competitive place in the G7 to invest and do business.
The proposed tax cut will help businesses grow by allowing them to immediately write off 100 per cent of the cost of a wide range of investments, including machinery, equipment, software and infrastructure.
This means businesses will have more money to invest in their operations, expand production and hire more workers right here in Ontario.
The Ontario Competitiveness Tax Cut is expected to:
- Create 30,000 new jobs for Ontario workers.
- Attract at least $11 billion in new investment to our province.
- Add $6 billion to Ontario’s GDP, strengthening our economy.
- Deliver more than $8 billion in provincial tax relief over the next five years.
Combined with previously announced measures, our government will deliver more than $12 billion in tax relief to support business investment over five years.
These changes would also bring Ontario’s marginal effective tax rate on new business investment down to just 3.6 per cent, well below the averages in the United States, the G7 and other major economies.
This latest action builds on our government’s record of cutting costs, reducing red tape and creating the conditions for businesses to succeed. Since 2018, Ontario has attracted more than $235 billion in domestic and international investment.
While others talk about protecting jobs, Doug Ford and the Ontario PC team are delivering real action to strengthen our economy and support Ontario workers and families.
At a time of global economic uncertainty, we cannot afford to stand still. We need to keep building, keep attracting investment and keep creating opportunities for the next generation. That’s how we’re protecting Ontario.