Today, Minister of Finance Peter Bethlenfalvy released the 2024 Budget: Building a Better Ontario. Like the rest of the world, Ontario continues to face economic uncertainty due to high interest rates and global instability.

To continue keeping costs down for families and businesses, the Ontario government is introducing proposed legislation through its spring 2024 Budget that would, if passed, extend the existing gasoline and fuel tax rate cuts until December 31, 2024.

The Ontario government is investing more than $1.8 billion in housing-enabling infrastructure funding to help build at least 1.5 million homes by 2031. This funding includes $1 billion for the new Municipal Housing Infrastructure Program and $625 million more for the Housing-Enabling Water Systems Fund, bringing its total funding to $825 million.

The Ontario government is keeping electricity costs down for about 100,000 additional families by expanding the eligibility for the Ontario Electricity Support Program (OESP). New income eligibility thresholds, which have increased by up to 35 per cent, take effect today.