Hamilton Chamber - Provincial Budget Reaction
The provincial budget, presented in the Ontario Legislature yesterday afternoon at 4pm, has a focus on what business has identified as a top issue: reducing the provincial deficit, and it aims to return to balanced books by fiscal 2017/18. The budget has identified the need to make Ontario more productive and competitive. The province is proposing to establish a Jobs and Prosperity Council to have business, labour, academics and non-government organizations advise government on a plan to boost Ontario's productivity. The budget also calls for freezing the corporate income tax rate at its current level until 2017/18, the year when the budget is projected to return to a balanced position.
Some additional key points from the budget proposals include:
- For every $1 in new revenues, there will be $4 of savings and cost-containment measures
- Average annual growth in program spending will be held to 1% between 2011/12 and 2014/15
- Government is projecting GDP growth of 1.7% in 2012; 2.2% in 2013; 2.4% in 2014 and 2.5% in 2015
- Reduce business support programs by $250 million in 2014/15
- Freeze the general corporate income tax rate at 11.5%. Under the Tax Plan for Jobs and Growth, Ontario's general corporate income tax rate has decreased from 14% in 2009 to 11.5% and was scheduled to fall to 11% on July 1, 2012 and to 10% on July 1, 2013. These corporate income tax rate reductions would resume in 2017-18 at which time a balanced budget is projected. It is estimated that this measure will save almost $1 .5 billion over the next three years.
- Freeze the Business Education Tax (BET) reduction plan beginning in 2013; however BET rate reductions already implemented will not be reversed. The government has committed to resuming the BET rate reductions at the time of the planned balanced budget in 2017-18. In 2007, the government announced it would cut high Business Education Tax (BET) rates over a seven year period to address the property tax burden on Ontario businesses.
The Hamilton Chamber would like to thank the Minister of Agriculture, Food and Rural Affairs, Ted McMeekin for meeting with Chamber members this morning to provide a de-brief on yesterday's provincial budget. The Minister said that the budget keeps the timelines in place for the GO Train Service by 2015 to James Street North; funding to continue uploading social service costs as per current schedule; funding for the Humanities faculty building at McMaster University among other initiatives.
Hamilton Chamber welcomes Federal Minister of Natural Resources, Joe Oliver
This Friday March 30, Noon-1:30pm, the Chamber is hosting Federal Minister of Natural Resources Joe Oliver who will deliver a speech that outlines Budget 2012 and Canada's need for responsible resource development. The Minister will underscore the importance of the country's natural resources to the economy, with a spotlight focus on the Province of Ontario, and emphasize that Canada is facing a tremendous opportunity to capitalize on natural resource development to stimulate jobs and growth.
Additional information about these events, including costs and registration, are available on the events section of the Chamber website at www.hamiltonchamber.ca
Congratulations to the winners of the Outstanding Business Achievement Awards
This past Monday March 26, the Hamilton Chamber hosted the 2011 Outstanding Business Achievement Awards as part of "A Celebration of Business Day" in Hamilton. The Chamber thanks our sponsors and congratulates all nominees. The winners for this year are:
Century Award: Forsythe Lubrication
Ironman Award: Agro Zaffiro LLP
Young Entrepreneur: Steve Kulakowsky
Not-for-Profit Award: Victoria Park Community Homes
Communications Technology Award: ECE Software Solutions
Small Business Award: Joseph Haulage Inc.
Large Business Award: The Sheraton Hamilton Hotel |
Happy retirement to Jan Watts, Chamber's Controller
Following a 35-year career with the Hamilton Chamber of Commerce, Jan Watts, our Controller, will be retiring on March 30. In recognition of her long service, please join fellow Chamber members as well as past Board Chairs and Board members at a "drop-in" retirement tea at the Chamber office on Thursday March 29 from 2-4:30pm and share some memories and laughs with Jan as she begins a new journey! |
Hamilton Chamber - Policy Updates
The new policy theme for the Hamilton Chamber this year is "Growing Hamilton's Economy through smart green infrastructure"
On Tuesday April 17, from 8-10am at McMaster Innovation Park, the Chamber is partnering with Sustainable Hamilton to offer the "Smart Business Workshop". Learn and interact with experts who will offer practical ways for you to improve your bottom line with simple business solutions that will also help you contribute to sustainable business practices. For more information, including registration details, visit the events section on the Chamber website.
Chamber Panorama supplement in Hamilton Spectator Business News April 4
Watch your edition of the Hamilton Spectator and its Business News Magazine on Wednesday April 4 for the Chamber's new Panorama insert. Panorama will cover Chamber activities, list new members, outline upcoming events and share business priorities. |
Updates from Chamber Divisions and Committees:
Please note that upcoming Chamber Division and Committee meetings will now be posted on the calendar of events on the Chamber website homepage. Please check the calendar for upcoming meetings and guest speakers. http://www.hamiltonchamber.ca/events/events
Upcoming Meetings:
Transportation: Tuesday April 3, 8am, Waterfront Centre
Ancaster Division: Community Awards: Tuesday April 3, 5:30pm, Ancaster Mill
Human Resources: Wednesday April 4, 8am, Waterfront Centre
Government Affairs: Wednesday April 4, Noon, Waterfront Centre
For more information about becoming a member of a Division or Committee, please contact the Chamber's President and CEO at, [email protected]
For an overview of the Chamber's committees and divisions, please visit,
http://www.hamiltonchamber.ca/committees/committees |
Chamber Events and Updates
Second Annual LiON's LAIR:
The Hamilton Chamber is pleased to be collaborating once again with Innovation Factory to present the second annual LiON's LAIR on October 4. More information is available at
www.pitch-it.ca. To get ready for the event and submissions, the following key dates are coming up in April:
Ancaster Community Awards
Come out to support Ancaster Citizens, Youth and Businesses
Tuesday, April 3rd
Ancaster Mill
5:30 p.m. Reception 6:30 p.m. Dinner
Guest Speaker: Bob Wilkins, Ancaster Heritage Village BIA
Sponsors: RBC Royal Bank (Citizen of the Year Award); Ancaster Mill (Youth Volunteer of the Year Award); Heritage Household (Business of the Year) Youth Bursary provided by Ancaster & Ancaster AM Rotary Clubs
Finalists: Citizen: Anton Plas (acclaimed); Business: Cora's Ancaster; Heritage Green Landscape Contractors; SupperWorks; Youth: Natasha Breward; Derek Hambly; Emma Kolesar; Anjali Vig and Erica Zucker
To Register: [email protected]
Dundas Community Awards
Nomination Deadline coming up
FRIDAY, MARCH 30TH
Please nominate TODAY!
RBC Dundas Citizen of the Year; Dundas Valley Collision Centre Youth Volunteer of the Year Award and Business of the Year
Forms available at www.hamiltonchamber.ca
Mark Your Calendar - Check the Chambers' website for upcoming details about the following events.
April 13 - Coffee with CEO (Richard Allen, ReNew Hamilton and Louise Dompierre, Chamber Board Chair)
April 17 - Smart Business Workshop (See above in Policy Area)
April 18 - Glanbrook Trade Show
April 24 - Luncheon with McMaster University Alumni Association April 26 - Business After Business - Beverly Golf & Country Club
April 27 - Dundas Community Awards
May 10 - Hamilton Economic Summit
May 28 - Women's Golf & Glamour Day
June 5 - Chamber's Annual Golf Tournament
Community Calendar & Member News Updates Be sure to check out the Community Calendar and the Member News links on the right side panel of this newsletter. Contact Diane Stephenson at 905-522-1151 ext. 220 or [email protected] to have your information included.
*Please Note: Member News is reserved for Not-for-profit member news and Hamilton Chamber Member milestone news i.e. Anniversaries, Grand Openings, Awards etc. All Chamber members are welcome to include their events in the Community Calendar. |
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Look for our weekly newsletter every Wednesday morning. This will be The Chamber's main vehicle of communication with members on a weekly basis for events, important news and updates. |
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