Ontario’s Finance Minister, Peter Bethlenfalvy, expressed disappointment with the 2024 federal budget today, describing it as a lost opportunity to abolish the federal carbon tax, which he claims exacerbates the cost of essentials like gasoline and groceries. “At a time when high inflation is already burdening consumers, our government insists that eliminating the carbon tax would significantly relieve financial pressure on Canadians,” Bethlenfalvy stated.
While acknowledging global economic uncertainties, Bethlenfalvy emphasized the need for federal cooperation to bolster Ontario’s economic recovery efforts. He appreciated the federal response to Ontario’s request for increased infrastructure funding to facilitate housing but voiced frustration over the absence of specific funds to enhance the GO train service between Milton and Toronto—a critical component of Ontario’s recent transit expansion plans.
The Minister also highlighted positive developments in the budget, such as the recognition of Canada’s emerging electric vehicle battery sector and the introduction of an investment tax credit for the electric vehicle supply chain. He urged the federal government to match Ontario’s investment of over $1 billion for infrastructure projects like the Ring of Fire region, and to streamline regulatory processes to expedite nationally significant projects.
Bethlenfalvy reiterated Ontario’s commitment to economic revitalization without new taxes, as outlined in his own “Building a Better Ontario” budget plan released several weeks ago. He concluded by affirming his readiness to collaborate with the federal government to implement these initiatives effectively.