In this edition:
- Ontario releases fall economic statement; $200 cheques, fuel tax, and municipal infrastructure front-and-centre
- ‘So why Niagara?’ Asahi Kasei could have decided to build its multibillion-dollar Port Colborne plant anywhere else in the world
- Mayor Siscoe proposes St. Catharines budget with 2.71% tax hike
- Loblaw willing to eliminate property controls, CEO says
- Canada Post presents latest offer in union negotiations after last week’s strike mandate
- Focus on Finance & Economy
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Photo credit: Brad Demers / Greater Niagara Chamber of Commerce
Ontario releases fall economic statement; $200 cheques, fuel tax, and municipal infrastructure front-and-centre
Today, Minister of Finance Peter Bethlenfalvy released the 2024 Ontario Economic Outlook and Fiscal Review: Building Ontario for You. “We’re going to continue investing responsibly to support Ontario’s growth and rebuild Ontario’s economy to make our province the best place to live, work and raise a family,” said Minister Bethlenfalvy.
Among highlights were a providing a $200 taxpayer rebate early next year, which was teased yesterday, and increasing the Ontario Municipal Partnership Fund (OMPF) — the province’s main general assistance grant to municipalities — by $100 million over the next two years, bringing total funding provided through this program to $600 million by 2026.
Photo credit: Giant Shoe Creative / Greater Niagara Chamber of Commerce
‘So why Niagara?’ Asahi Kasei could have decided to build its multibillion-dollar Port Colborne plant anywhere else in the world
Asahi Kasei Corp. had the world to choose from when selecting a site for its multibillion-dollar battery separator plant.
It chose Port Colborne.
“As beautiful of a community that you are, there are a lot of choices for people to look at for projects,” he told an audience of about 350 local business and political representatives while delivering the keynote address at the Greater Niagara Chamber of Commerce (GNCC) economic summit at White Oaks Conference Resort and Spa in Niagara-on-the-Lake Tuesday.
Photo credit: Brad Demers / Greater Niagara Chamber of Commerce
Mayor Siscoe proposes St. Catharines budget with 2.71% tax hike
St. Catharines Mayor Mat Siscoe has published his proposed multi-year operating budgets online, with a proposed 2.71 per cent city tax increase for 2025.
Siscoe will present his 2025-26 “readoption” operating budgets to city council on Nov. 6, along with multi-year capital and water and wastewater budgets.
Photo credit: JHVEPhoto / Adobe Stock
Loblaw willing to eliminate property controls, CEO says
Loblaw Cos. Ltd. chief Per Bank said the grocer is prepared to axe property controls—as long as its competitors follow suit.
Bank penned an op-ed in The Globe and Mail Wednesday (Oct. 30), writing, “We envision a competitive environment in which all new and existing property controls are eliminated.”
Photo credit: Blacqbook / Adobe Stock
Canada Post presents latest offer in union negotiations after last week’s strike mandate
Canada Post has presented its latest contract offer in labour negotiations with the Canadian Union of Postal Workers (CUPW) less than a week after the union received a strike mandate from workers.
In a bid to reach a new deal without a labour disruption, the latest proposal includes annual wage increases amounting to 11.5 per cent over four years.
Did you know?
Focus on Finance & Economy
The loonie is trading at lows not seen in years. Here’s what it means for Canadians
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
