Ontario Budget Outlines Future Skilled Trades Investments
Ontario’s Minister of Finance Peter Bethlenfalvy has announced the 2023 Budget “Building a
Strong Ontario”, signaling a shift in focus away from reactionary COVID-19 measures, returning
to Premier Doug Ford’s Progressive Conservative government’s initial plans on which they were
elected.
This budget follows through on campaign commitments made during the 2018 and 2022
election periods, focusing on housing, health care, and job creation. Minister Bethlenfalvy
signalled that despite global economic uncertainty, Ontario’s economy remains robust with
largescale economic growth, the creation of new jobs, and significant recent investments in the
manufacturing industry.
Budget highlights include:
- Ontario Made Manufacturing Investment Tax Credit, providing a 10% corporate tax income
credit for local manufacturers;
- Expanding the Skills Development Fund for skilled workers and enhancing the Ontario
Immigrant Nominee Program to bring new skilled workers in to the province;
- Investing $224M to a new capital stream of the Skills Development Fund to expand skilled trades training centres;
- Adding $3 million to the Ontario Bridge Training Program to help internationally trained
immigrants find employment in their fields, with emphasis on those in the skilled trades.
For more information, contact Chelsea Goberdhan at 1-800-267-2231 ext. 236, or email cgoberdhan@hrai.ca.
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