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Fiscal approach

PROTECT LOW-INCOME AND MIDDLE-CLASS FAMILIES

Regular Ontario families have been through a lot the last few years. Life keeps getting harder, with the cost of living skyrocketing. Lower and middle class Ontarians deserve to get back on solid ground, so they can build their best life here in Ontario.

Years of deep cuts from Liberal and Conservative governments have hurt what matters most to Ontarians, like health care, housing, and public services. Doug Ford allowed big box stores to see record profits during the pandemic, while local businesses and regular families struggled.

COMMITMENT

We will freeze taxes for low and middle income families.

COMMITMENT

Ensure that the wealthiest Ontarians and big corporations pay their fair share, raising much- needed revenue.

COMMITMENT

Cancel wasteful projects. We will cancel wasteful projects prioritized by the Ford Government such as Highway 413 and the Bradford Bypass. These projects will cost billions of dollars, take over a decade to construct, encourage sprawl and leave taxpayers footing the bill.

COMMITMENT

Crack down on speculation: We’ll introduce an annual speculation and vacancy tax on residential property. Modeled off British Columbia’s tax, it will apply to all speculators who own houses they don’t live in. The rate will be two per cent of the assessed value and will be phased in over two years. We’ll also maintain the Non-Resident Speculation Tax at 20 per cent and close loopholes that allow wealthy investors off the hook.

COMMITMENT

Make Tobacco companies pay for all Smoke-Free Ontario programming:Companies that have profited for decades from the sale of cigarettes will cover the cost of providing Smoke-Free Ontario programs, as recommended by the Canadian Cancer Society.

DEBT AND DEFICIT

The pandemic made it more clear than ever that Ontario families urgently need new investments in health care, long-term care, and education.

Years of underinvestment and cuts from Liberal and Conservative governments have hurt what matters most to Ontarians. A pandemic recovery will require sizeable investments.

An Ontario NDP government will manage Ontario’s finances responsibly and invest to fix and deliver the services that our communities need. We’ll work towards an ever-decreasing debt-to-GDP ratio through a mixture of responsible fiscal management, economic growth, and ensuring that the wealthiest among us pay their fair share.