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2024 Ontario Budget - Chamber of Commerce reaction · Kvetch & Release

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  We found out that this budget we balanced ahead of the twenty twenty six election.
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  There were lots of references nineteen times in the budget document to Windsor Essex.
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  We're going to get the reaction right now from CEO and President of Windsor
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  Essex Chamber of Commerce, Rakesh and I do. How are you doing?
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  Very good? Thanks? How are you doing? I'm doing really well.
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  Thank you so much. What is your reaction to what you've been seeing largest
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  budget that the province has ever put forward. Well, you know, we
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  do have quite a bit of challenges and the budget is trying to solve some
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  of them. We know that currently there is a significant challenge for businesses when
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  it comes to business confidence itself. You know, the significant law only sixteen
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  percent or confident in terms of you know, where Ontario is going and the
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  business environment in Ontario. You know, cost of living is quite high,
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  growth rate is plummeting. We know we still have labor shortages and that is
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  increasing. We are aware of the healthcare challenges that we have. Inflation continues
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  to be high, and we have housing shortages and labor shortages. So there's
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  quite a few things that the government is battling and is trying to solve through
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  the budget and I can see bits and pieces of attempts to you know,
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  to solve them, some credible, some some you know, we think that
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  more could have been done. So it's a mixed bag, I would say
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  for the winter at six region, I think there's some good news. You
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  know, there's one specific thing that the Chamber we have been really working hard,
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  which is you know, to do it with the import duty on wine
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  as well as the retail sales tax of six point one percent. The good
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  news that we see in this budget is that the six point one percent retail
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  sales tax that has been eliminated. So that's that's something which which we are
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  really hardly welcoming. And we of course know that there's a you know,
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  funding for new interchange at Easier and Banal and as well as at Lows on
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  Parking four one, so so that's good. We know that there is the
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  housing shortages and they're they're really trying to solve that by by increasing funding for
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  infrastructure that will help in building more housing, uh, and so that is
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  something that we welcome. And then of course you know businesses, uh,
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  there is there is a challenge when it comes to business productivity. We know
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  that our productivity is lagging even when it comes to US and has computed some
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  other OECD countries, and the government is trying to, you know, to
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  really bridge that gap and investments in various infrastructure but also specifically like high speed
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  infrastructure, where's about one point three billion dollar that's committed. I think those
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  are those are some really good steps. So I would say, yes,
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  there has been attempts made, you know, to solve some of the issues,
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  but there's quite a few challenges in it. Last question I would have
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  for you, Rakesh, You know, we've got it was just reported recently
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  Windsors tied for the highest unemployment rate right now in the country, but we
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  still have, you know, these construction jobs that are ongoing and the outlook
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  is actually looking pretty good, but we're still tied for the worst. Are
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  you at all concerned that, you know, as we lose these construction jobs
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  that are going to sunset after the bridge is completed, after the battery plant
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  is fully up and running, after the retooling, after the hospital, are
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  you concerned that there will be less workers that are in those buildings than in
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  the construction side of things. Well, there'll be less in the construction side
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  of things for sure, but then we definitely will see more activity when it
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  comes to other businesses, you know, the supply chain that is going to
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  be here, more activity when it comes to the windoor assembly operation, hopefully
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  a third shift, new products, new products in the supply chain. So
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  I think we will see more economic activity going forward. It is true that
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  we right now have a very high, one of the highest in terms of
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  unemployment numbers, but you know, the future is bright for this region and
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  I remain very optimistic and remain very confident that once we get through this difficult
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  phase, you know, maybe one two more quarters, as we hopefully start
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  seeing the interest rates come down, more activity happen, more construction happen,
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  and hopefully you know, the new HOSPITALI we hear some good news today that
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  the construction is set to begin in twenty twenty six, so I think that
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  will add to the economic activity. So I think, you know, the
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  future for windsor Es six I am very gung go about. It's going to
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  remain positive, but we have some headwinds that we are facing currently. Rakesh.
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  Thank you so much for your time today. I really appreciate it.
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  You're always welcome. Absolutely, you as well. Rakesh and I Do is
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  the CEO and President of the Windsor Essex Chamber of Commerce. His reaction to
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  the twenty twenty four Ontario budget