With the Ontario provincial election set for February 27, 2025, the Ontario Liberal Party, led by Bonnie Crombie, has released a comprehensive platform detailing $65 billion in new spending over the next four years. The plan emphasizes that these initiatives will be funded without introducing new taxes or increasing existing ones.
Key Highlights of the Liberal Platform:
- Education Initiatives: The Liberals propose constructing 90 new schools, reducing student-to-teacher ratios, and shortening teachers’ college programs to one year to address the current teacher shortage.
- Healthcare Investments: A commitment of $29 billion over four years aims to ensure every Ontarian has access to a family doctor.
- Economic Measures: The platform outlines $26 billion allocated for home building, responding to tariffs, and implementing tax cuts, though specific breakdowns of these figures were not provided.
To finance these initiatives, the Liberals plan to identify over $28 billion in efficiencies within the provincial budget. However, detailed strategies on achieving these savings have yet to be disclosed.
In contrast, the Ontario New Democratic Party (NDP), under Leader Marit Stiles, has unveiled a platform promising $70 billion in new spending over three years. This plan includes generating $37 billion through increased capital gains taxes, new tax brackets for ultra-high earners, and a luxury residence tax.
Key Highlights of the NDP Platform:
- Cost of Living Support: Introduction of a monthly grocery rebate to assist residents with rising food costs.
- Healthcare Access: Ensuring every Ontarian is connected to a family doctor.
- Affordable Housing: Establishment of a public builder to construct 300,000 affordable homes.
- Education Enhancements: Creation of a universal school food program to provide nutritious meals to students.
The NDP anticipates that new tax brackets for individuals earning $300,000, $400,000, and $500,000 annually will generate approximately $3 billion per year. Additionally, increasing the taxable portion of capital gains from 50% to 80% is projected to bring in about $3.5 billion annually.
Meanwhile, Progressive Conservative Leader Doug Ford is in Washington, D.C., for the second time during this election campaign, engaging in meetings to address and counter U.S. tariff threats.