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Ontario Provincial Surplus Could go to Local Communities

by Fobok | March 16, 2008 at 12:46 pm | 284 views | add comment

When the Investing in Ontario Act is introduced next week, growing municipalities like Barrie could receive a portion of funding from the provincial surplus. Currently, all of the surplus is relegated to paying off the provincial debt. This Act, if passed, will direct a portion of the surplus to local communities to be used for improving roads, public transit, schools, social housing, and more.

“This will reflect what the municipality’s priorities are. Certainly, I’m cognizant of the need for affordable housing and infrastructure. It’s for the municipalities to decide where to put this new source of money,”

said Barrie MPP Aileen Carrol.

Currently, Ontario invests $300 million to the Municipal Infastructure Investment Initiative, with plans to add another $150 million in the near future.

Finance Minister Dwight Duncan added the extra cash will not only improve transportation and quality of life in Ontario, but it will create construction jobs in the short term.