Federal Finance Minister Jim Flaherty presented the Government’s 2009 Budget today including new and accelerated investment in municipal infrastructure, new funding for social housing construction and repairs, and an extension to Employment Insurance (EI) benefits that will reduce pressure on municipally cost-shared Ontario Works benefits.
The Budget includes additional funding for the Communities Component (municipalities less than 100,000 population) of the Building Canada Fund (BCF). The Federal Government will provide an additional $500 million over the next two years in new funding for the Communities Component – an estimated extra $195 million in federal funding in Ontario.
The government will also create a $500 million fund for recreational facilities like hockey arenas, swimming pools and community centres and provide $225-million over three years to extend broadband coverage to unserved communities.
Northern Ontario will receive $170 million over two years to secure a more sustainable and competitive forest sector;
Providing funding of $60 million to support infrastructure-related costs for local and community cultural and heritage institutions such as local theatres, libraries and small museums.
Providing a one-time federal investment of $1 billion over two years for renovations and energy retrofits for up to 200,000 social housing units on a 50–50 cost-shared basis with provinces.
Further details are available at:
http://www.amo.on.ca/Content/NavigationMenu/PolicyIssues/AertsandFYIs/default.htm
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