Province on Track Today and in the Future
Ontario Long-Term Report Shows Need for Consistency and Predictability
The Ontario government's investments in infrastructure, health care and education will increase productivity and support economic growth in Ontario as employers and workers adapt and seize opportunities in the new global economy, according to the Long-Term Report on the Economy.
With these investments, Ontario is creating a strong economic future based on a competitive tax system, a smart and dynamic business climate, a skilled and healthy workforce and modern infrastructure.
The report also shows that, despite recent challenges, Ontario's manufacturing sector is adapting to global economic realities. Manufacturing will continue to be a significant part of the province's economic output and employment in the years to come.
Given the federal government's reluctance on a Canada Pension Plan expansion, Ontario is leading the way to develop a made-in-Ontario pension solution that will help people retire with better security.
Supporting growth while continuing to invest in public services is part of the government's economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario's greatest strengths -- its people and strategic partnerships.
- Ontario’s Long-Term Report on the Economy is an assessment of the province’s fiscal and economic environment and is prepared every four years by the Ministry of Finance in accordance with the Fiscal Transparency and Accountability Act.
- The report’s demographic and economic projections highlight the anticipated challenges and opportunities that will affect the province over the next 20 years.
- This spring, the Finance Minister will present the 2014 budget, which will provide an update on Ontario’s fiscal and policy plans.
“Ontario’s Long-Term Report shows that Ontario is poised for strong economic growth. It looks 20 years in the future and talks about our strengths built up over the last 10 years. The report indicates the need for consistency, predictability and steady hands, all of which our government is providing with our bold plan to create jobs and grow the economy by investing in people, building modern infrastructure and supporting a dynamic and innovative business climate.”