Ontario has passed legislation which will create more opportunists for people across the province, whilst also furthering the economic plans laid out earlier this year.
The Budget Measures Act will provide up to $2,000 to employers and small businesses that hire and retain younger workers, as well as creating Ontario Tax Credit - which will help people caring for relatives to balance work and family life.
The Act will also improve retirement security by increasing the guaranteed monthly payment of certain pension benefits if the employer becomes insolvent or goes bankrupt to $1,500 from $1,000, and, create a new regime for multi-employer pension plans that offer target benefits.
“It is essential to our continued prosperity that everyone gets a chance to achieve their potential and help make Ontario stronger,” added Charles Sousa, minister of finance.
“Prosperity is built on fairness. Today’s measures will help create opportunities for more businesses, families and individuals to contribute to — and benefit from — our economic strength.”
Ontario's plan to create fairness and opportunity during this period of rapid economic change includes a higher minimum wage and better working conditions.
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