Highlights from the budget - Metro US

Highlights from the budget

Highlights of the 2009 Ontario budget presented Thursday:

• $56.8-billion deficit over seven years as the province grapples with the global economic downturn.

• A harmonized 13 per cent sales tax beginning July 1, 2010 that will raise costs on a myriad of goods and services, including home heating oil.

• A family with an income of $160,000 or less to get $1,000, spread over three payments starting June 2010, to ease transition to new sales tax.

• A single person with an income of $80,000 or less to get $300 to ease transition.

• $32.5 billion for infrastructure spending over two years, including $5 billion from Ottawa, to sustain some 300,000 jobs.

• $4.5 billion in tax relief for business over three years through corporate income tax cuts.

• Income tax cut for 93 per cent of Ontario taxpayers, including an average 10 per cent cut for people earning less than $80,000.

• Ontario Child Benefit accelerated, giving low- and middle-income families up to $1,100 per year per child.

• Total budget spending of $108.9 billion for 2009-10 with a $14.1-billion deficit.

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