On Wednesday, March 24, 2021, the Ontario government released the 2021 provincial budget. This proposed budget will directly help residents throughout Oakville and the thousands of small businesses operating in our community. This second pandemic budget builds on previous COVID-19 measures.
The budget focuses on two critical areas: protecting people’s health and protecting our economy. In total, the budget brings provincial investments during the pandemic to $16.3 billion to protect people's health and $23.3 billion to protect our economy. No cuts or tax increases are being proposed.
Importantly, the government is easing the burden that COVID-19 has caused and charts a path to strong recovery both locally and province-wide.
The pandemic has significantly impacted businesses. To help Oakville businesses remain operational and assist in growing the economy, the province is proposing even more direct relief. Specifically, the budget proposes a second Small Business Support Grant payment. The Small Business Grant provides eligible businesses with a minimum of $10,000 to a maximum of $20,000.
Additionally, the government is proposing to invest an additional $400 million to support the tourism, hospitality, and culture industries. Oakville is fortunate to have diverse businesses, and they need financial relief to get through these unprecedented times.
In the budget, families are being supported. Two important initiatives being proposed are to double the Ontario COVID-19 Child Benefit to $400 for each child and $500 for each child with special needs. Moreover, to support working parents, the government is putting forward a 20 percent enhancement of the Ontario Child Care tax credit for 2021, which will bring support to an average of $1,500.
Throughout the pandemic, long-term care homes have been impacted. It has exposed the homes' conditions and the need for urgent action. The government is committed to addressing the challenges in long-term care and improving the quality of care. To protect long-term care residents, the province is investing an additional $650 million in long‑term care in 2021–22, bringing the total funding to over $2 billion since the beginning of the pandemic.
Furthermore, Ontario is investing an additional $933 million over four years, for a total of $2.6 billion, to support building 30,000 new long-term care beds. Locally in Oakville, the government has accelerated a new 512-bed long-term care home. This home will reduce the growing waitlist that our town is confronting.
The provincial government will also improve standards of care in homes. The province will be investing $4.9 billion over four years to increase the average direct daily care to four hours a day in long-term care and support hiring more than 27,000 new positions, inclusive of nurses and personal support workers. The government puts the residents, staff, and caregivers of long-term care first.
To further help seniors in Oakville, the government proposes the new Seniors’ Home Safety tax credit for the 2021 taxation year. This new credit will provide 25% back on eligible home improvement expenses up to $10,000. Qualifying businesses can claim the credit for upgrading homes with safety and accessibility features.
Many support measures are being introduced. The government has a plan to balance the budget, and growing the economy will play an instrumental role. Ontarians and our businesses' health will continue to be supported as we recover from the pandemic. I want to assure you that our town and province will get through this, and there is light at the end of the tunnel.
