BREAKING: Ontario to give manufacturers an income tax credit in the 2023 budget.
their 2023 budget.
Speaking at a news conference held Wednesday, Ford said the tax credit was part of his government’s plan to rebuild the manufacturing sector. Ford made the announcement alongside Finance Minister Peter Bethlenfalvy, who said Ontario’s manufacturing sector saw a decline in employment of over 300,000 workers between 2004 and 2018.
The tax credit is the newest of a series of business-friendly announcements made over the last few weeks. On Tuesday, the government said it would spend $224 million to build and upgrade training centres.
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