”. tiao welcomes new tourism specific support programs annouced in ontario budget March 24, 2021 The Tourism Industry Association of Ontario (TIAO) has welcomed … Photo by The Canadian Press / Toronto Sun Article content Ontario will not be back in the black until the end of the decade. Table 2.6 Changes in the Ontario Ministry of Finance Key Economic Forecast Assumptions: 2020 Budget Compared with 2021 Budget. The province will spend $186.1 billion in 2021 and projects a deficit of $33.1 billion which is not expected to be balanced until 2029. TIAO has strongly argued for sector specific support to ensure the tourism industry survives theCOVID-19 pandemic and can help lead the economic resurgence when the virus is defeated.TIAO’s blueprint for resurgence has focused on the necessity for immediate financial support tohelp tourism businesses survive this pandemic and government support to help create theenvironment for tourism to be at heart of provinces economic rebound. Bay of Quinte MPP Todd Smith speaks from behind plexiglass at Karlo Estates Winery in Prince Edward County Monday, March 29 to announce $200 million in provincial funding to support Ontario’s tourism industry during the COVID-19 pandemic. In it, were items critical to helping the tourism industry survive and thrive when the pandemic is over. TIAO WELCOMES NEW TOURISM SPECIFIC SUPPORT PROGRAMS ANNOUCED IN ONTARIO BUDGET File Attachments . Ontario is introducing the Ontario Tourism Recovery Program, a new $100 million initiative for 2021–22 to help tourism operators, anchor businesses, and attractions recover from the impacts of COVID‑19. Ontario Finance Minister Peter Bethlenfalvy said it was decided to make the small business aid a grant versus a loan that would have increased business debt. “To help further fuel these industries, I’m pleased to share with you that our government will be supporting our sectors through the 2021 Budget with nearly $1 billion dollars worth of support,” MacLeod said. “I’ve had people tell me that the grant was the difference between keeping the lights on and closing forever,” Bethlenfalvy said. On March 24, 2021, Minister of Finance and President of the Treasury Board, Peter Bethlenfalvy, presented the 2021 Ontario budget. Bay of … The focus of the 2021 Budget remains on providing targeted support for businesses hardest hit by the economic effects of COVID-19. Twitter; Facebook; Google Plus; LinkedIn | Permalink. Young people will likely indirectly benefit from other measures in Wednesday's budget, such as the $400 million earmarked to support Ontario's tourism, hospitality and culture industries. 439 University Avenue, Suite 1400 Toronto Ontario M5G 1Y8 CA 416-483-1691 info@tiaontario.ca. Save my name, email, and website in this browser for the next time I comment. These programs combined with the governments recommitment to the Ontario StaycationCredit, new tax credits designed to help support Ontarian’s get back into work and training,investment in broadband and extra funding for the Northern Ontario Heritage FundCorporation, demonstrates a government wide commitment to our industry and its importancein the economic future of the province.”, “TIAO thanks Minister Bethlenfalvy and (Tourism) Minister (Lisa) MacLeod for their unrelenting support for ourindustry and commitment to working collaboratively to ensure we emerge from this pandemicstronger than when we entered it. The Tourism Industry Association of Ontario (TIAO) has welcomed a series of initiatives announced today in the Ontario provincial budget that will support the province’s battered tourism industry. The new Ontario Tourism and Hospitality Small Business Support Grant will help the immediatechallenges of solvency for tourism businesses and the Tourism Recovery Fund will help tourismbusinesses reopen, restructure and stay competitive in the most dynamic industry in the worldand safeguard the livelihoods of hundreds of thousands of Ontarians. Smith also said there will be another $10 million available to the province’s wineries and cideries through a new grant program that is on top of existing support. Bloore said the Ontario Tourism and Hospitality Small Business Support Grant will provide up to $20,000 in forgivable loans to tourism businesses who previously had been left out. #travel #tourism #DougFord #Ontario #PEI #BritishColumbia, BC and PEI today both announced new travel restrictions. No significant tax changes were introduced as the budget mainly focused on protecting the health of Ontarians and protecting the economy of Ontario. Budget 2021 includes no new taxes, but announces addi-tional relief including: • A proposed $260 million Ontario Jobs Training Tax Credit, to be put towards re-skilling and re-training. The Ontario government has delivered its second budget of the COVID-19 pandemic, which lays out a plan to stimulate economic growth and jump start what is expected to be a years-long journey to financial recovery. Sherry Karlo says her winery has invested money they previously received  from the province into creating a safe environment for patrons and employees. 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