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Statement From Minister Dwight Duncan On May Job Numbers

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Statement From Minister Dwight Duncan On May Job Numbers

Ministry of Finance

Ontario continues to feel the effects of the global economic crisis.

As today's job numbers show, the impact of this global recession on Ontario's economy continues to affect our families, individuals, communities and businesses.

These challenging times require governments to act - to get people working, to support our most vulnerable and to grow our economy. That's what our government is doing.

The McGuinty government is investing $34 billion over the next two years to stimulate economic growth and help Ontario families.

This investment represents 2.9 per cent of gross domestic product -- above and beyond the minimum recommendation of the International Monetary Fund for short-term stimulus action.

This funding includes $32.5 billion for infrastructure - roads, sewers, bridges, schools and hospitals. We estimate that this investment will create and support more than 300,000 jobs across the province over the next two years.

We are also providing $700 million in additional funding for skills training to help unemployed Ontarians find new and better jobs.

The best way to overcome the challenges of this global recession is by building a powerful Ontario economy.

The single sales tax is the single most important thing we can do to prepare Ontario's economy for job creation. Research from Atlantic Canada showed that a single sales tax led to an increase in investment in machinery and equipment by 12 per cent. That kind of investment will help Ontario's economy.

Our government will continue to move forward with our plan to help families and businesses affected by the global economic crisis and position Ontario to become more competitive for a more prosperous future.

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