Yes, thank you. Today I rise to speak to the second reading of the Progress on the Plan to Build Act (Budget Measures), 2022. I will be splitting my time with my two parliamentary assistants, the member for Oakville and the member for Bruce–Grey–Owen Sound. I’m glad to see them here in their seats.

Yesterday, I introduced the Ontario economic outlook and fiscal review and tabled our first ever Building Ontario Progress Report. The progress report and fall bill highlight how our flexible and responsible plan is positioning the province to be ready to manage uncertainty and risk as the world faces emerging economic challenges. It is my honour to continue to discuss the highlights in that report that showcase how we have progressed on our plan to build and to discuss the measures in the fall bill that are aimed at furthering the progress spelled out in our fall economic statement.

Monsieur le Président, le rapport d’étape et le projet de loi de l’automne montrent en quoi notre plan flexible et responsable met la province à même de gérer l’incertitude et le risque à un moment où le monde fait face à des difficultés économiques émergentes. C’est pour moi un honneur de continuer à discuter des points saillants de ce rapport qui mettent en évidence les progrès que nous avons réalisés au regard de notre plan pour bâtir et de discuter des mesures prises dans le projet de loi de l’automne pour faire suite aux progrès annoncés dans notre énoncé économique de l’automne.

I am pleased to say that we have made significant progress on our plan. I will first take a moment to list the key pieces of legislative business contained in the bill.

Related to the Ontario Guaranteed Annual Income Act, we are proposing to temporarily double the Ontario Guaranteed Annual Income System payment. This temporary measure would be for 12 months, starting in January 2023. This step is a way that our government can help keep costs down for low-income seniors.

Mr. Speaker, we are also proposing an extension of the gasoline and fuel tax rate reductions under the Gasoline Tax Act and the Fuel Tax Act. We are also working to keep costs down and put more money back in the pockets of the people of Ontario by including the cut to the gas tax and the fuel tax. Statistics Canada noted that the province’s rate cut was a contributor to the decline in gas prices in Ontario for the month of July, helping to lower consumer price inflation.

This bill also proposes amendments to the Ontario Production Services Tax Credit under the tax act of 2007. The proposed amendments would expand eligible expenditures for the Ontario Production Services Tax Credit to include location fees to help attract domestic and foreign film and television production to the province, and incentivize more on-location filming in communities across Ontario.

De plus, nous proposons des modifications au crédit d’impôt de l’Ontario pour les services de production, prévues dans la Loi de 2007 sur les impôts. Les modifications proposées permettraient d’élargir les dépenses admissibles aux fins du crédit d’impôt de l’Ontario pour les services de production en y incluant les frais de lieux de tournage pour attirer la production télévisuelle et cinématographique canadienne et internationale dans la province, et encourager davantage les tournages dans des localités de l’Ontario.

We are also proposing to extend the current freeze on the salaries of members of provincial Parliament. We also have proposals related to the acts that provide the government with the usual spending authority it requires to carry on operations for the 2022-23 and the 2023-24 fiscal years.

In relation to the Securities Act, we are proposing to introduce rule-making authority to allow public companies to digitize access to certain financial documents. This proposal shows how Ontario is moving ahead with modernizing the way public companies communicate with investors and the market to reduce regulatory burden and support the digitization of the economy.

We are also proposing amendments to the Pension Benefits Act related to the framework to target benefit pension plans. These amendments will allow the government to work with stakeholders to develop a clear and fair framework for their pension plans, specifically around funding, governance and communication.

Finally, Madam Speaker, we are proposing amendments to authorize the creation of a provincial clean energy credit registry. This proposed change would launch a voluntary clean energy credit registry in 2023 to help boost competitiveness, attract jobs and provide businesses with more choice in how they pursue their environmental and sustainability goals. These legislative changes and amendments are part of our government’s plan to build Ontario. This province, its people and our government are focused on getting things done.

Our Building Ontario Progress Report shows how we are making progress in attracting investments and creating good jobs. It is our government that has, over the last two years, helped attract $16 billion in transformative global auto investments of electric vehicles and electric vehicle batteries in Ontario. And it is our government that is investing $2.5 billion to help make Ontario a world-leading producer of low-carbon steel. I’m sure the Minister of Economic Development, Job Creation and Trade would completely agree with me. We got a thumbs-up.

It is our government that is building Ontario’s workforce by making progress in training and educating students and workers to succeed today and tomorrow. And it is our government that has already added over 11,700 health care workers, including nurses and personal support workers, to our health care system.

It is our government that is building infrastructure for Ontario by getting more shovels in the ground on critical projects all across the province. It is our government that is building to ensure this province is a leader in Canada and across the world because, Madam Speaker, this province has had decades of underinvestment. Because of this underinvestment, this province today needs many things. It needs highways and more transit. It needs more hospitals and more schools. Ontario needs more long-term-care homes and Ontario needs schools, subways and highways.

On that last point, I’m proud to report that today, preliminary fieldwork is under way for Highway 413. Early work construction is under way for the Bradford Bypass that will serve the rapidly growing communities of Simcoe county and York region and help ease traffic in the greater Toronto area.

Madam Speaker, our government is also making progress in ways that directly impact every person and family in Ontario, no matter where they live.

Madame la Présidente, notre gouvernement fait également des progrès qui ont une incidence directe sur chaque personne et chaque famille, partout en Ontario.

To help keep costs down, our government has eliminated licence plate renewal fees, as well as licence plate stickers, and refunded the past two years’ fees for eligible vehicles. These actions have helped make life more affordable for nearly eight million vehicle owners in Ontario. To further contribute to the savings every day for households in Ontario, we temporarily cut the gas tax and the fuel tax starting on July 1, 2022. These actions build on others that the government has taken to make life more affordable, such as child care support for eligible families through the Ontario Childcare Access and Relief from Expenses tax credit.

We know that, in order to make social and economic progress, we also need to address the current labour shortages. That is why our government is focused on supporting job creation and economic growth. Simply put, we want everyone who is able and wants to pursue a job to pursue and reach their goal. We want them to know they are not alone in their pursuit—that their government is in their corner. That is why one of our key investments is in skills training. We have supported groundbreaking programs that connect jobseekers through our Skills Development Fund. It is giving people the skills and training they need to pursue a new opportunity. And I announced when I introduced the 2022 Ontario Economic Outlook and Fiscal Review, we are investing an additional $40 million for the latest round of this program. Madam Speaker, this brings total funding for the next round to $145 million.

We know that the skilled trades present an opportunity for successful careers for thousands of people. High school students need to know that in Ontario today, they can have a great life in the skilled trades or working with children. That is why I am pleased to share that our government is expanding the Dual Credit Program. That is creating direct pathways for high school students and learners seeking a career in the trades or in early childhood education. Thanks to this program, students are getting the opportunity to complete credits towards both in Ontario’s secondary school diploma and college credential, or a certificate of apprenticeship, giving them the opportunity to work and begin work earlier. Madam Speaker, there is a future for young people in the trades. There is a future in building in Ontario.

Our government continues to build Ontario’s economy, to build Ontario’s workforce, to build Ontario’s infrastructure and keep costs down for families and businesses. Each and every day, in every corner of our province, we are getting it done. There can be no uncertainty about the immense geographic size of the province we call home.

But, Madam Speaker, there is uncertainty about the economic times we find ourselves in. Today, all across the globe, we see emerging fiscal challenges.

L’économie d’aujourd’hui est source d’incertitude. Partout dans le monde, des difficultés financières se manifestent.

In Ontario, we are not immune to these pressures. In 2022, Ontario’s consumer price inflation reached highs not seen since the early 1980s, when I was a young man. We are seeing 40-year price spikes because of many things: the consequences of a worldwide pandemic and because of Russia’s illegal war on the Ukraine, which has caused supply disruptions across various industries. While inflation eased slightly in September, the Bank of Canada increased interest rates another 50 basis points in October, so the cost of groceries and everyday goods that all businesses and families rely on continue to remain stubbornly high.

The next couple of years are likely to be marked by ongoing economic turbulence, by uncertainty and by challenges. Understandably, Ontario seniors, families, workers and businesses are feeling financial pressure. The challenges of ongoing labour shortages and supply chain disruptions are being felt throughout our economy. Our government knows this reality is stressful for many. This is why our government has built a flexible and responsible fiscal plan, one that takes a targeted approach as we navigate these uncertain times together. It’s the right plan, and no matter what lies ahead, I have confidence in the resilience of Ontario’s economy, I have confidence in its workers, and I have confidence in its businesses and people. I have confidence in our plan.

C’est le bon plan. Quoi que l’avenir nous réserve, sachez-le : j’ai confiance en la résilience de l’économie ontarienne et dans les travailleurs, les entreprises et les populations de l’Ontario. J’ai confiance en notre plan.

Awareness of these challenges informed our work as we prepared the 2022 fall economic statement. It is why we have included in it new targeted measures to advance our plan and help families, workers, seniors and businesses. It is why we have included new plans and programs to support those families, seniors, businesses and workers.

Through these times of great economic instability and uncertainty, our government remains steadfast. We are resolved to our task. One of these areas we are determined to advance progress in is attracting investment and bringing good manufacturing jobs back to Ontario. Our government is using the strength of Ontario’s supply chain to support globally competitive, homegrown manufacturing, and build things such as the next generation of hybrid and electric vehicles and batteries right here in Ontario, for sale right across North America.

We know that manufacturers are looking for ways to remove emissions from their supply chains, and that is why our government is proposing legislation to launch a voluntary clean energy credit registry. This registry would, if passed and approved, boost competitiveness for the province and give Ontario businesses another tool as they compete for global capital. Manufacturing is Ontario’s legacy and it’s Ontario’s future.

This registry is among the outside-the-box initiatives we are exploring and undertaking as we pursue making the province the destination of choice for global investors. That is why we are refocusing our approach to cutting red tape to clear up supply chain delays as well as supporting Ontario’s agri-food system so we can get goods and services to customers faster and help create more jobs.

We know that these are challenging financial times for many in our province. This government understands that the last thing the people of Ontario need right now is a tax increase at the pumps. That is why we are proposing to extend the gas and fuel tax for another 12 months, until December 31, 2023. Extending these cuts would mean households of this province would save $195, on average, between July 1, 2022, and December 2023.

Many of us will know and appreciate that seniors built this province and we owe them all a debt of gratitude, but for too many low-income seniors, covering day-to-day costs has become a source of anxiety. That is why our government is proposing to double the Guaranteed Annual Income Supplement, also known as GAINS, so seniors can receive a maximum increase of almost $1,000 per person for low-income seniors for the year.

These and other measures in the bill and the 2022 fall economic statement make the picture clear. Our government has a responsible, flexible plan, needed to help Ontario’s businesses, workers, families and seniors, as the province navigates this period of uncertainty. Whatever the economic uncertainty may bring, our government has a plan.

Before I turn it over to my two able parliamentary assistants, I also want to acknowledge my previous parliamentary assistant. The member happens to be opposite today—right over there—the member from Brantford–Brant. I want to thank him for his great support and work when he was my parliamentary assistant. Gentlemen, you have a very high bar to match.

With that, I would now like to call on the member for Bruce–Grey–Owen Sound, who will also speak to the measures contained in this bill.

Good morning, colleagues. Today, I rise to speak in support of the second reading of the Progress on the Plan to Build Act (Budget Measures), 2022, in follow-up to the Minister of Finance introducing the 2022 Ontario economic outlook and fiscal review yesterday, and Minister Bethlenfalvy initiating second reading of the bill this morning.

These documents—our progress report and the bill—include new targeted measures that advance our plan on many fronts. They move forward our work to build the economy, address the province’s labour shortages and help families and businesses keep costs down. The progress report and bill highlight how our responsible, targeted approach is positioning the province to be ready to manage uncertainty and risk as the world faces emerging economic challenges. It’s my honour to discuss the specific measures in the bill that are aimed at furthering the themes of progress articulated in our fall economic statement. I’ll begin by listing the key pieces of legislative business contained in the bill. I will then discuss them in more detail.

In relation to the Securities Act, we are proposing to introduce rule-making authority to allow public companies to digitize access to certain financial documents.

We’re also proposing amendments to the Pension Benefits Act, to consult on pension funding and governance policies to strengthen target benefit pension plans.

For the Ontario guaranteed annual income support, or GAINS, we’re proposing to temporarily double the payment to low-income seniors.

Interjections.

Another item is the Legislative Assembly Act—you won’t clap for this. Here, we’re proposing to extend the current freeze on the salaries of members of provincial Parliament.

We also have proposals related to the Supplementary Interim Appropriation for 2022-2023 Act, 2022, and Interim Appropriation for 2023-2024 Act, 2022. These proposals are customary legislative business, aimed at providing the government with the spending authority it requires to carry on operations for the 2022-23 and 2023-24 fiscal years.

Madam Speaker, we’re also proposing an extension of the tax rate reduction under the Gasoline Tax Act and the Fuel Tax Act.

As well, we are proposing amendments to allow companies to claim location fees for the purposes of the Ontario Production Services Tax Credit under the Taxation Act, 2007.

Finally, we’re proposing amendments to authorize the establishment or designation of a provincial clean energy credit registry.

Now I will focus on each item in a little more depth.

First, the Securities Act: rule-making authority in respect of the access-equals-delivery initiative. The amendments proposed here would provide the Ontario Securities Commission with authority to make rules enabling public companies to make certain documents such as prospectuses or financial statements accessible to investors online on a central website. These rules would replace the current approach, which requires public companies to provide investors with either physical or emailed copies of prospectuses or financial statements.

Under the proposed model, investors would still retain the option of requesting physical or electronic delivery of documents if they so choose. It will also encourage companies to adopt a digital and environmentally conscious approach to engaging and communicating with investors. The proposed amendment directly responds to recommendations made by the Capital Markets Modernization Taskforce in 2020 and furthers the government’s commitment to modernize capital markets in Ontario. The amendments would come into effect on royal assent.

Now for the Pension Benefits Act, specifically pension funding and government policies for target benefit pension plans: Target benefit pension plans have been operating under temporary regulation since 2007 that will expire in 2024 unless replaced by a permanent framework. These amendments will allow the government to work with stakeholders to develop a clear and fair framework for these pension plans, specifically around funding, governance and communication. This supports the government’s 2022 budget commitment and will provide employers, plan administrators and members with certainty, stability and confidence in the pension plans. Implementation of a permanent framework will also pave the way for more employers to offer workplace pension plans, increasing the opportunities for workers to save for their retirement.

As I mentioned earlier, we’re also temporarily doubling the Ontario Guaranteed Annual Income System, or GAINS, payment. These proposed amendments would temporarily double the payment for all recipients for 12 months starting in January 2023. This act provides a monthly payment to eligible low-income seniors. Currently, the maximum payment for an eligible senior is $83 per month. Under the proposed amendments, the maximum payment would be doubled to $166 per month, meaning many seniors will now be receiving almost $1,000 extra in supports in 2023. This measure, if approved, would help about 200,000 of Ontario’s lowest-income seniors manage their costs. And we’ve also committed to introducing measures to expand the eligibility of GAINS in the future to ensure more seniors who need financial help get it. As with most of the measures contained in this bill, these amendments would come into force on royal assent.

Next, I turn to the Electricity Act and the clean energy credit registry. Here, the proposed amendments would authorize the establishment or designation of a provincial clean energy credit registry by early 2023. To support investment in the province and alignment with Ontario’s low-carbon hydrogen strategy, the government is seeking approval for legislative amendments that will allow the designation or establishment of a clean energy credit registry. The registry would attract the transfer and retirement of clean energy credits from clean electricity generated and consumed in Ontario. Launching a voluntary clean energy registry would boost Ontario’s competitiveness, attract jobs and investment in the province and provide businesses with the information they need to pursue their environmental and sustainability goals.

Now I come to the Legislative Assembly Act, where we are extending the current freeze on MPP salaries. The Legislative Assembly Act limits Ontario MPP salaries at $116,550—that is, the salary that has been in effect since 2009. The act currently states that the MPP salary freeze ceases to have effect as of April 1 of the second fiscal year immediately after the provincial budget returns to surplus. As a result of the provincial surplus reported by my honourable colleague Prabmeet Sarkaria, President of the Treasury Board, in the 2021-22 public accounts of Ontario, the salary freeze would end automatically on April 1, 2023, triggering an MPP salary increase. However, we are proposing in the bill to extend the freeze indefinitely until a further amendment is made to the Legislative Assembly Act. So MPP salaries will not be increasing at this time.

I now turn to pieces of legislation that relate to government spending. First, the Supplementary Interim Appropriation for 2022-2023 Act, 2022, is required to provide the government with spending authority to carry on operations. A new supplementary interim appropriation act is normally introduced in years in which the amounts in the interim appropriation act for the year were insufficient to recover expected expenditures. A new supplementary interim appropriation act would provide supplementary interim spending authority for anticipated government expenses, pending the vote of supply. All expenditures under the proposed act would be in addition to amounts already authorized under the Interim Appropriation for 2022-2023 Act, 2021. The supply act for 2022-23 would replace and repeal the proposed act.

Second, the Interim Appropriation for 2023-2024 Act, 2022—a lot of numbers. As you all know, a new interim appropriation act is normally introduced each fall to provide the government with the spending authority it requires to carry on operations. A new interim appropriation act would provide interim spending authority for anticipated government expenses, government investments and the expenses of legislative offices for the fiscal year April 1, 2023, to March 31, 2024, pending the vote of supply. All expenditures under the proposed act would have to be charged to the proper appropriation following the vote of supply for that fiscal year. The supply act for 2023-24 would replace and repeal the proposed act.

Madam Speaker, our government understands that families and businesses are feeling financial pressure. That’s why we are also proposing to extend the cuts to the gasoline tax rate and diesel fuel tax rate. In April, our government passed legislation to temporarily cut the gasoline tax rate and fuel tax rate to nine cents per litre, which took effect July 1, 2022. On January 1, 2023, both taxes were scheduled to revert back to their rates before the temporary rate reduction. Our proposed extension of the cuts to the gas tax and the diesel fuel tax rates mean that the rate of tax on gasoline and diesel would remain at nine cents per litre until December 31, 2023. This is a temporary extension of a further 12 months. It is part of our plan to help keep costs down for Ontario families and businesses.

And now I come to the Taxation Act, 2007: Ontario Production Services Tax Credit and location fees. We are proposing an amendment to include location fees as eligible expenses for the purposes of determining the Ontario Production Services Tax Credit. The proposed amendments would allow productions to include rental fees for on-location filming as eligible expenditures for the purposes of this tax credit up to a maximum of 5% of qualifying production expenditures. The amendment would apply to expenditures incurred after November 14, 2022.

To increase the economic and cultural benefits of the province, the government is also proposing to make regulatory amendments to require that recipients of the Ontario Film and Television Tax Credit provide a screen credit acknowledging government support. This requirement would be effective for productions that began principal photography after December 31, 2022.

Madam Speaker, we are in uncertain economic times, and this bill and our 2022 fall economic statement clearly show that our government has a responsible plan with targeted new measures to help navigate these economic challenges. Whatever the economic uncertainty may bring, the people of Ontario should know that our government is prepared.