Province eyes tax cuts, public payroll in stern budget
How the 2012 Ontario budget impacts businesses, their owners and their employees.
TORONTO—Businesses large and small are being asked to grin and bear a delay in tax reductions and programs while the Ontario government spends the next few years taking the hack-saw–and maybe even pepper spray–to its public sector payroll.
With the highly anticipated provincial budget, Dalton McGuinty let his Finance Minister Dwight Duncan be the face of a particularly tough fiscal plan that proposes to save $17 billion over three years and increase revenue by $4.4 billion without hiking taxes.
If enacted, the oft-referenced Austerity Budget is a complex document that will impact businesses and business people in several ways.
Here are some details. Check back for frequent updates: