Ontario Delivers Progress Report and Advances its Plan to Build
Ontario’s 2022 Fall Economic Statement takes action in a time of economic uncertainty and global inflation.
FOR IMMEDIATE RELEASE November 14, 2022
TORONTO — Today, Minister of Finance Peter Bethlenfalvy released the 2022 Ontario Economic Outlook and Fiscal Review – Ontario’s Plan to Build: A Progress Update. It includes the government’s first‐ever progress report on its plan to build Ontario, as well as new targeted measures that advance its plan to build the economy, address the province’s labour shortage and help families and businesses keep costs down.
The government is also providing an update on Ontario’s economic and fiscal outlook, highlighting how its flexible and responsible plan is positioning the province to be ready to manage uncertainty and risk as the world faces high inflation and emerging economic challenges.
“Together, we have come so far,” said Minister Bethlenfalvy. “From attracting investments and good jobs, to training thousands of skilled trades workers and helping keep costs down for families, we have made significant progress. As we navigate these uncertain economic times, our government is enhancing its plan through new targeted measures that support families, seniors and small businesses.”
“This update shows that a number of key projects in the Region of Waterloo are moving forward,” said Kitchener-Conestoga MPP Mike Harris. “I am pleased we are proposing to extend cuts to the gas tax until December 31, 2023 to help keep costs down for families and businesses.”
Highlights of local features of the government’s plan include:
- Funding for the planning of the Grand River Hospital and St. Mary’s General Hospital Joint Redevelopment Project to modernize and expand hospital services in the Kitchener‐Waterloo region.
- The next phase of construction for the new Highway 7 between Kitchener and Guelph will provide relief to the gridlocked Highway 401 and connect the fast‐growing urban centres of Kitchener, Waterloo and Guelph. Design of the Frederick Street bridge replacement is well underway with utility work targeted to begin in spring 2023.
- Ontario is moving forward to deliver two‐way, all‐day GO train service from Kitchener to Union Station in Toronto. This will provide more trips at every point along the line, improve regional connectivity, support economic development and help reduce congestion. In May 2022, Ontario awarded a key contract for the Guelph Central GO Station to construct a second platform, a new storage track for maintenance vehicles and a passing track in the community of Breslau to allow trains moving in opposite directions to pass each other.
2022 Ontario Economic Outlook and Fiscal Review — Ontario’s Plan to Build: A Progress Update
Read the Background: Economic and Fiscal Overview
Read highlights of Ontario’s Plan to Build: A Progress Update
Read more about the government’s plan to keep costs down and when the government is delivering relief
Read the 2022 Budget: Ontario’s Plan to Build