Activity Summary
June 2002
Activity Summary
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The OHBA Activity Summary is published monthly. Click a link below to view Activity Summary Archives.
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JUNE 2002
2002 ONTARIO BUDGET
The Hon. Janet Ecker, Minister of Finance, tabled the 2002 Ontario Budget on June 17th. Key points outlined within the budget are as follows:
- A fourth consecutive balanced budget.
- Increased funding for apprenticeship initiatives to provide training for an additional 6,000 to 8,000 individuals.
- The corporate income tax rate for small businesses reduced to 5.5% effective January 1st, 2003.
- Implementation of reductions in education property tax rates, personal income tax and the general and manufacturing rates of corporate income tax one year later than currently scheduled.
- The government will, in next year's budget, present a multi-year tax reduction plan.
The Ontario Home Builders' Association supports fiscal responsibility and balanced budgets. Copies of the budget and related documents are available at: www.ontfinance1.com
PROVINCIAL/FEDERAL AFFORDABLE HOUSING PROGRAM
On May 30th, 2002 the Government of Canada and Ontario signed an Affordable Housing Program agreement which will provide $489.42 million to help address the critical shortages many Ontario regions are facing with respect to affordable and rental accommodation. The program will create an estimated 10,500 units in Ontario during the next five years. For additional information contact Nick But, Ministry of Municipal Affairs and Housing at 416-585-6517.
ONTARIO ECONOMIC OUTLOOK
| 2000 | 2001 | 2002 F | 2003 F | |
|---|---|---|---|---|
| Real GDP Growth (%) | 5.5 | 1.0 | 3.1 | 4.2 |
| Housing Starts (000's) | 71.5 | 73.3 | 80.0 | 76.0 |
| Employment (000's) | 5,872 | 5,963 | Up to 6,079 | Up to 6.264 |
| Unemployment Rate (%) | 5.7 | 6.3 | 6.5-6.8 | 6.0-6.5 |
| CPI Inflation (%) | 5.5 | 1.0 | 3.1 | 4.2 |
| Provincial Revenue ($ Billions) | 64.7 | 63.5 | 66.5 | 68.3 |
Source: 2002 Ontario Provincial Budget
ONTARIO HOUSING & RENOVATION MARKET
Ontario Housing Starts are up 16% from January-May 2001 to January-May 2002. Single detached homes were 29% above those in the January-May period last year, while multiple family homes were up 4%. Strong levels of migration, employment growth and low interest rates continue to drive the market. Renovation spending in Ontario is estimated in the $8.98 Billion range for 2002.
ONTARIO LEGISLATIVE UPDATE
This session of the Ontario legislature is scheduled to end June 27th, 2002. Heading into summer, several issues of interest to the construction industry include:
- Bill 124 An Act to Improve Public Safety and to Increase Efficiency in Building Code Enforcement (BRRAG) has received third reading. The regulations are expected this fall with implementation in 2004.
- Moving Smart Growth Forward. The Ministry of Municipal Affairs and Housing will establish Smart Growth Panels for the Western and Eastern Regions in the coming months to work along with the already announced panels for the Central, North Western and North Eastern Regions.
- The New Municipal Act is to come into effect January 1, 2003. Regulations are currently being developed in consultation with the industry and are expected to be released this fall.
- The five-year review of the Provincial Policy Statement continues and the Ministry has recently released a document containing a summary of the consultations to date. The Provincial Policy Statement provides direction on matters of provincial interest related to land use planning and development, and promotes the provincial "policy led" planning system. It encompasses such topics as Smart Growth, Environment, Transportation, Infrastructure and Housing. For more information please visit the Ministry of Municipal Affairs and Housing website at: www.mah.gov.on.ca.
OHBA AWARDS OF DISTINCTION - ENTRY DEADLINE
The OHBA Sales and Marketing Committee has responded to member suggestions to re-design the Sales and Marketing Awards. The new OHBA Awards of Distinction will be presented at the annual Conference October 10th, 2002 at the Deerhurst Resort in Huntsville. All Awards of Distinction entries including fees, pictures and exhibits must be received at the OHBA offices no later than 5:00 pm on Wednesday July 10th, 2002.
AVAILABLE FROM OHBA
- OHBA Magazine Summer Issue
- OHBA Membership Directory 2002
- OHBA Development Charge Memo
- Awards of Distinction Entry Brochure
- 2002 OHBA Conference Registration
- Ontario Housing Start Statistics - May
Ontario Home Builders' Association
20 Upjohn Road,
North York, Ontario M3B 2V9
(416) 443-1545
Toll Free: 800-387-0109
Fax: (416) 443-9982
E-mail: info@ohba.ca
