Oshawa Chamber and Ontario Chamber Release 2024 Provincial Budget Recommendations
March 14th, 2024 Oshawa, ON- Ontario’s economic prosperity is threatened by inflation, infrastructure backlogs, regulatory barriers, skills gaps, and fears of a slowing economy. To address these challenges, the Greater Oshawa Chamber of Commerce and Ontario Chamber of Commerce’s (OCC) 2024 Provincial Budget Submission provides recommendations focused on closing Ontario’s productivity gap through a principled growth strategy.
“With cost pressure from inflation, higher interest rates and lower consumer confidence businesses across Durham Region continue to feel the effects of the current economic conditions.” said Oshawa Chamber President, Steve Conaby. “Budget 2024 must lay the groundwork for strong economic growth, building the infrastructure and workforce of the future, and modernizing regulation to ensure Ontario can attract investment and nurture entrepreneurship.”
Some key recommendations include:
- Empowering Ontario’s workforce and addressing labour shortages by supporting a financially sustainable post-secondary education sector, advancing upskilling and reskilling initiatives, and scaling evidence-based interventions to support the participation of equity-deserving groups in the labour market.
- Cultivating business competitiveness and sustainable growth by improving access to private capital and credit for small businesses, removing barriers to interprovincial and international trade, and supporting key sectors such as clean energy, cannabis, and tourism.
- Investing in resilient, healthy communities by tackling primary care and broader health human resource crises, combating growing rates of mental health and addiction challenges, and expediting the implementation of Ontario’s life sciences strategy.
- Building strong foundations through infrastructure by leveraging partnerships to build and preserve affordable housing along the continuum, investing in energy generation, transmission, and distribution infrastructure, and continuing to accelerate broadband rollout across the province.
“In 2024 and beyond, productivity must be Ontario’s priority,” said Daniel Tisch, President and CEO of the OCC. “Capital will flow where productive capacity is highest, and we want it to flow to Ontario. That’s why the budget must focus on policies that support immediate growth while investing in an educated workforce, long-term infrastructure, and healthy, sustainable communities.”
Recommendations outlined in the OCC’s budget submission were developed in consultation with businesses of all sizes, labour unions, postsecondary institutions, non-profit organizations, industry associations and close to 150 chambers of commerce and boards of trade.
For more information about the Oshawa Chamber of Commerce, please visit www.OshawaChamber.com. To learn more about the Ontario Chamber of Commerce, please visit www.OCC.ca.
