The Ontario Chamber of Commerce (OCC) has released its budget submission for Budget 2026, calling for bold, growth-enabling investments and structural reforms to strengthen Ontario’s economy. Daniel Tisch, President and CEO of the OCC, emphasized that “Ontario has strong economic foundations, but they are being tested.” The OCC’s recommendations highlight the need for prioritizing tax credits and exemptions to attract investment and expand the province’s talent pipeline.
Meanwhile, on the same day, the Quebec Finance Minister tabled the province’s eighth budget. The Canadian Federation of Independent Business criticized the budget for its lack of support for small and medium-sized enterprises (SMEs). François Vincent remarked, “If the government wants to prioritize support for businesses, especially SMEs, it must address its unfair tax regime and its crippling regulatory and administrative system.”
Despite the criticism, the Quebec Manufacturers and Exporters welcomed a $375 million package aimed at supporting businesses and encouraging innovation. Additionally, the Quebec Forest Industry Council expressed optimism about the budget, noting $147 million allocated for silvicultural work in public forests.
However, the Quebec Employers Council pointed out the absence of significant new spending in the budget, which they believe may not influence companies’ investment decisions. Véronique Proulx stated, “Adding money to various targeted programs will neither alleviate the excessive tax burden on our businesses, nor reduce the bureaucratic complexity of accessing these funds.”
The budget also includes a refundable tax credit for Quebec news media, supporting the electronic media sector. Observers are noting a projected 4.1 percent increase in health spending in Quebec, alongside a 5.5 percent increase in funding allocated to university education for the 2026-2027 fiscal year.
Despite these increases, the funding per student in Quebec is projected to fall from $12,034 to $11,841, raising concerns about the long-term sustainability of educational funding. Réjean Leclerc criticized the government, stating, “The government lacked courage and failed to commit to strong measures that would have allowed us to get out of the current crisis in the health and social services network.”
As both provinces navigate their budgetary challenges, the focus remains on how these financial plans will impact local businesses and the broader economy. Details remain unconfirmed regarding the long-term effects of these budgets on investment and growth in Ontario and Quebec.
