Ontario’s 2020 Fiscal Update: Our Action Plan to Respond to COVID-19

Given the ongoing developments of the COVID-19 pandemic, our government recognizes the need for certainty during these uncertain times. That’s why, instead of a full Budget that usually occurs in the spring, Finance Minister Rod Philips released an economic and fiscal update on March 25 based on our best understanding of the current public health and financial situation. This update includes a realistic one-year outlook based on current economic projections.

Ontario’s Action Plan: Responding to COVID-19 outlines the first fiscal steps in our plan to tackle the COVID‑19 outbreak. The action plan will provide $7 billion in additional resources, including $3.7 billion in support for people and jobs and a $3.3 billion investment for the health care system. Additionally, we have taken action to make up to $10 billion available in support for people and businesses through tax and other deferrals to improve their cash flows, helping protect jobs and household budgets.

As part of our supports for individuals, we are doubling the monthly Guaranteed Annual Income System (GAINS) maximum payment for the next six months to $166 per individual and $332 for couples. This will help get urgent support in the hands of nearly 200,000 low-income seniors in Ontario. For families with school-aged children, we are providing a one-time payment of $200 per child under 12-years-old, and $250 per child with special needs, to help defray additional costs associated with school and daycare closures. These measures build on our recent emergency order setting all time-of-use electricity rates to the lowest off-peak rate for the next 45 days, and ensuring that electricity and natural gas services are not disconnected for non-payment during the COVID-19 outbreak.

Our investments into the health care system will support a whole of health approach to tackling COVID-19. This includes: increased hospital capacity for assessment and treatment; investments into public health, home and community care, and Telehealth Ontario; support for retirement homes and long-term care homes; as well as personal protective equipment for personal protective equipment and critical medical supplies.

Finally, we are committed to responsibly managing Ontario’s finances with measures to provide further flexibility to respond to this rapidly changing global pandemic. That’s why, as part of this economic update, we have created a dedicated $1 billion COVID‑19 contingency, as well as unprecedented $2.5 billion reserve and an increased contingency fund of $1.3 billion to provide continued flexibility to respond to the changing global circumstances.

As a reminder, if you develop symptoms of COVID-19, including cough, fever, and breathing difficulties, call Telehealth at 1-866-797-0000 or contact your local public health unit. Be sure to mention your symptoms and travel history, including any countries you may have recently visited. If you need emergency medical attention you should call 911 and mention any travel history and symptoms. My constituency office staff and I are available to answer any questions you may have by phone at 1-800-265-1603 or online at sylviajonesmpp.ca.