Housing was expectedly a major component of the budget, as Ontario residents continue to grapple with an increasingly unaffordable cost of living. To that end, an additional $202M will be given each year to the Homeless Prevention Program and Indigenous Supportive Housing Program to help those experiencing or at risk of homelessness. Of that $202M, a large portion will go to Toronto, said Deputy Finance Minister Greg Orencsak, but a municipal breakdown will be provided at a later date.
In an attempt to combat this, the Province plans to invest $224M in 2023-2024 for a new capital stream of the Skills Development Fund to leverage private-sector expertise and expand training centres, and will invest an additional $25M over three years to the Ontario Immigrant Nominee Program to attract more skilled workers, including in-demand professionals in the skilled trades.in both 2023 and 2024, falling to 80,300 and 79,300, respectively, down significantly from 2022’s 96,100 starts.