Five things to know about the Ontario budget

5 things you need to know about Pharmacare

– Everyone 24 years of age and under qualifies, which amounts to roughly 4-million Ontarians.
– There will be no deductible or co-pay
– It will be available to everyone regardless of household income
– It starts January 2018
– The plan completely covers the cost of all medicines funded through the Ontario Drug Benefit Program.

5 ways the budget benefits seniors

– Ontario’s new Dementia Strategy will increase support for people caring for loved ones including day programs, respite services, training and education.
– Helping seniors cover the cost of public transit with a tax credit saving up to $130 annually.
– Investing over $8-million over the next three years to support forty new Elderly Persons Centres by 2018-2019.
– Investing $18-million in new funding for community programs such as Meals on Wheels and transportation support.
– An increase of $15 million in the food allowance to ensure long term care facilities can province nutritious meals for seniors.

5 ways Toronto benefits

– The province has given Toronto the authority to impose a tax on vacant homes as well as hotel taxes including a possible tax on Airbnbs.
– Investing more than $130-million in affordable housing, including a minimum of 20 percent affordable housing in both the Grosvenor/Grenville site and the West Donlands development.
– Toronto’s child care funding will be increased by over $34-million in 2017-2018 which will create an additional 3,100 subsidies for children up to 4 years of age.
– Increasing the share of gas tax to 4 percent per litre starting in 2019 which will amount to approximately $340-million annually once fully implemented.
– Continued financial commitment to ongoing transit projects including SmartTrack, the Eglinton Crosstown LRT, the Scarborough Subway and $150-million toward the planning of the Downtown Relief Line.

5 ways the budget benefits families

– 100,000 more children will be able to access affordable, licensed child care.
– New OSAP plan means students won’t have to repay the provincial portion of their loans until they earn $35,000 annually.
– Lowering household hydro bills on average by 25 percent starting this summer.
– The Fair Housing Plan will increase affordability for both buyers and renters.
– Ontario’s new Dementia Strategy will increase support for people caring for loved ones including day programs, respite services, training and education.

5 financial effects of the budget

– Health care premiums Ontarians pay at work should drop with Pharmacare.
– Pharmacare coverage could have a possible negative on insurance companies.
– The Trump effect could derail the Liberal’s balanced budget, including a possible tariff on the Ontario auto sector.
– Ontario’s credit rating is probably safe for now with the balanced budget.
– Ontario’s has finally eliminated its deficit, but its debt is rising, projected to be $312-billion this year, or roughly $22,000 for every Ontarian, and projected to grow to $336-billion in 2019-2020.