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Ontario Provincial Budget Stays the Course

TORONTO – March 29, 2011Ontario Home Builders’ Association President Bob Finnigan welcomed a lower than projected provincial budget deficit due to reduced levels of program expenditure. Recognizing the fiscal challenges Ontario faces, OHBA continues to support infrastructure investments that improve productivity and economic competitiveness.
“The Infrastructure investments in today’s budget support job creation and will help to solidify Ontario’s path to recovery,” Finnigan said, adding, “these public sector investments will create opportunities for home builders to make their own private sector investments that will bolster further job creation.” Finnigan noted caution in the building and development industry, “home builders are concerned regarding the strength of the economy which is why it is crucial that we continue to work in partnership with the government to get people back on job sites and in the workplace to ensure a sustainable recovery.”

Mr. Finnigan expressed disappointment neither the federal nor provincial budget announced a permanent consumer renovation tax credit to mitigate against the growing impact of the underground economy on residential renovations following the implementation of the HST. “There has been an explosion of underground activity in the renovation sector since the HST was implemented. More and more homeowners are paying cash to avoid paying taxes and legitimate contractors just can’t compete anymore. OHBA will continue to advocate to all levels of government for a permanent consumer renovation tax credit to combat the underground economy.” www.ohba.ca

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