Ontario Budget Initiatives Welcomed By TIAO
The Tourism Industry Association of Ontario (TIAO) said that it strongly welcomed a series of measures designed to support the tourism and hospitality industry that were included in the 2020 Ontario Budget that was unveiled last week.
TIAO pointed out that supporting local tourism will be at the heart of economic recovery and it is delighted to see the government announce their intention to implement a travel tax credit for Ontarians’ to re-explore the ‘world in one province’ that is Ontario.
It noted that the travel tax credit was a key pillar of TIAO’s recommendations to the government as part of the budget consultation process.
TIAO president & CEO Beth Potter commented: “We are delighted with the substantial support for the tourism industry announced [on Nov. 5]. This will help businesses stay competitive in the most dynamic industry in the world and safeguard the livelihoods of hundreds of thousands of Ontarians.”
Potter continued: “This is an important first step to ensuring tourism is an integral part of our province’s economic recovery. We are heartened by the government’s decision to adopt our recommendations and look forward to continued dialogue to safeguard this vital industry.”
The industry association also welcomed the $100 million community building fund, the $25 million for Ontario Arts Council funding and $100 million fund to retain workers who have lost their jobs because of COVID-19.
And it observed that this is a substantial boost for our sector and those who work within it. At a time when SMEs need our support, we welcome the government’s decision to make permanent COVID-era exemptions from the Employer Health Tax on the first $1 million of a payroll.
TIAO also welcomed the reduction in the Businesses Education Tax rate, moves to cut hydro rates for medium and large enterprises and the intention to realize further property tax savings. These measures will help to keep businesses open and save jobs.
And TIAO’s president and CEO concluded: “Thank you to Minister MacLeod and Minister Phillips for your continued support of the tourism industry. We look forward to continuing our work with the government to ensure our industry has a pathway to a full post-pandemic recovery.”
Go to www.tiaontario.ca for more.