Ontario government should finally reduce tax burden in upcoming budget

Since Premier Doug Ford took office in 2018, expectations for tax reductions in Ontario have not materialized. Instead, the provincial tax burden has increased, with tax revenue rising from 12.1% of GDP in 2017/18 to a projected 13.4% in 2024/25. Ford has not fulfilled promises to lower personal and business income tax rates. A recent study suggests that reducing Ontario's high combined personal income tax rate could still yield more revenue than during Kathleen Wynne's tenure, highlighting the need for tax reform to support economic growth.