Prime Minister Stephen Harper and Ontario Premier Dalton McGuinty today announced three initiatives designed to support the provinces efforts to invest in workers and communities.
The province’s manufacturing sector has been negatively affected by the rapid appreciation in the Canadian dollar, softening in the U.S. economy, high oil prices, and intense competition from emerging economies.
“These federal initiatives will provide support for our efforts as the Ontario economy adjusts to new challenges in the global economy,” said McGuinty in a release.
The Community Development Trust will provide Ontario with $358 million to support programs that improve productivity and competitiveness, technology development and training for workers and communities facing challenges in industries such as agriculture, forestry, and manufacturing, including automotive manufacturers.
The Police Officers Recruitment Fund allocated to Ontario is its share of the national fund. Over the next five years, the province will receive $156 million to improve public safety and security by putting more officers on the streets of Ontario’s cities and towns.
The Public Transit Capital Trust expands on existing federal support for public transit in Ontario by providing $195 million in new funding. The province will direct the funds into its plans for expanding public transit.
Ottawa, Ontario announce three initiatives to support province’s economy
$358 million to support programs that improve productivity and competitiveness
- By: IE Staff
- March 27, 2008 March 27, 2008
- 09:50